Rex International's (SGX:5WH) 80.14% subsidiary, Lime Petroleum, signed a contract with Borr Gerd for a 120-day drilling campaign in Benin, according to a filing with the Singapore Exchange on Monday.
The Seme Field is operated by Akrake Petroleum, which intends to submit a field development plan to the Ministry of Energy, Water and Mines and resume production in the second half of the year.
Shares of the oil exploration company were down over 14% in recent trading.
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