Akrake owns a working interest of some 76% in the field and 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. The interest is subject to the Benin government’s entitlements under the production sharing contract.
As at 9.17am, shares in Rex International are trading 1.2 cents lower or 10.08% down at 10.7 cents.
