Rex finds MOPU and FSO for Benin oilfield redevelopment

Akrake Petroleum Benin, an affiliate of Singapore’s Rex International Holding Limited, has signed contracts to use two vessels for a field development offshore Benin.

The deal entails a mobile production unit (MOPU), which will be converted from a medium-sized drilling rig, and an Aframax tanker to be used as a floating storage and offloading (FSO) at the Sèmè field off the coast of Benin. Both vessels are scheduled to arrive in Benin in Q4 2025. 

Akrake is the operator of the Sèmè field, holding an approximately 76% working interest. The government of Benin holds a 15% and Octogone Trading a 9% interest in the field. As disclosed by Rex, its subsidiary aims to submit a field development plan to the Ministry of Energy, Water, and Mines and restart production in the field in the second half of 2025.

According to Rex, Akrake is a special-purpose company set up to assess the field’s development potential. Akrake is owned 100% by Lime Petroleum, which is in turn owned 80.14% by Rex. 

Discovered by Union Oil in 1969, the Sèmè field was first developed by Norway’s Saga Petroleum, producing approximately 22 MMbbl between 1982 and 1998, before production was stopped due to low oil prices in the late 1990s. Akrake Petroleum signed a production-sharing contract (PSC) for operatorship and a working interest in the field in late 2023.

Earlier this month, Lime signed a contract for a Borr Drilling jack-up rig to be used for an anticipated 120-day drilling campaign at Sèmè.

As stated in the qualified person’s report (QPR) from August 2024 and confirmed last month, the field has demonstrated good productivity. The plan is to initially redevelop it using a phased approach, aiming to restart production and maximize oil recovery through the use of horizontal wells and modern completion technology for effective water control.

The August report evaluated the deep H7 and H8 reservoirs, which were revised in a competent person’s report (CPR) published on April 17, 2025, and also the shallower H6 reservoirs, which Lime plans to redevelop in Q2 2025.

Based on the latest report, although the deeper H7 and H8 reservoirs are known to contain hydrocarbons, they will be re-evaluated as part of the H6 redevelopment in Q2 2025. As disclosed, Lime currently has no firm plans to develop these reservoirs. Therefore, the H7 and H8 reservoirs are considered to be “contingent resources – development unclarified.” 

The Sèmè field is located in the Dahomey Basin, in shallow waters twelve miles offshore in the Gulf of Guinea, Benin. At its peak in 1984, Sèmè is said to have produced 7,627 stb/d from the Abekotu Formation (H6) reservoir, although hydrocarbons were also discovered but never produced from the older, underlying H7 and H8 reservoirs.

Lime will be drilling a new production well into the H6 reservoir in Q2 2025. As part of this drilling campaign, the H7 and H8 reservoirs will be drilled again.

The proposed redevelopment comprises two phases. Phase 1 is a combined one-year production test of the previously produced H6 reservoir and appraisal of the lower, unproduced H7 and H8 reservoirs. Lime aims to do this by drilling a high-angle appraisal well (AK1) to test the H7 and H8 reservoirs before plugging back and completing the H6 for long-term test/production. This well is due to be drilled in Q2 2025.

A second horizontal well (AK2) will be drilled in the field’s western part in the H6 reservoir, which will also be placed on long-term test/production via an MOPU. The exact position of this well will depend on the results of the AK1 well. First oil is expected from the H6 reservoirs in Q3 2025.

Phase 2 comprises two parts and is contingent upon the appraisal results of the lower H7 and H8 reservoirs drilled in Phase 1. The first part will be to develop H7 using three horizontal wells. First oil from H7 is planned for Q1 2027, with the development wells being drilled back to back with the second (Phase 1) H6 development well. A further exploration well is also planned in Block 1 outside of the current North Sèmè field.

The second part of Phase 2 entails the development of the H8 reservoir by drilling two horizontal ‘fish bone’ wells and installing wet gas processing on the MOPU with a pipeline to shore. A gas processing plant is planned to be built onshore to supply indigenous gas for a power station. First gas is targeted in Q1 2029.