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May 6, 2025
Akrake Petroleum Benin SA, a wholly owned subsidiary of Lime Petroleum Holding AS and indirectly owned by Singapore-based Rex International Holding, has signed contracts to redevelop the Sèmè oilfield offshore Benin. The agreements encompass the provision of a Mobile Offshore Production Unit (MOPU), converted from a mid-sized drilling rig, and an Aframax tanker to serve as a Floating Storage and Offloading (FSO) unit.
The Sèmè field, situated in the shallow waters of the Gulf of Guinea approximately 12 miles offshore Benin, was discovered by Union Oil in 1969. Norwegian company Saga Petroleum developed the field, which produced around 22 million barrels of oil between 1982 and 1998. Production ceased due to low oil prices and high water cut.
In late 2023, Akrake secured a Production Sharing Contract (PSC) for Block 1, which includes the Sèmè field. Akrake holds a 76% operated interest, with the Government of Benin holding 15% and Octogone Trading 9%.
The redevelopment strategy involves a phased approach:
Phase 1 (2025): Drilling a vertical exploration and appraisal well to test multiple reservoirs, followed by a horizontal well targeting the previously productive H6 reservoir.
Phase 2 (2026–2027): Subject to successful outcomes from Phase 1, development of the deeper H7 and H8 reservoirs with additional horizontal wells.
The MOPU and FSO are expected to arrive in Benin during the fourth quarter of 2025, with production restart targeted for the second half of the year.
Clad plates, which combine corrosion-resistant alloys with high-strength backing materials, are anticipated to be utilized in the construction of pressure vessels, piping systems, and heat exchangers within the MOPU and FSO. Their application is crucial for handling corrosive fluids and gases, ensuring structural integrity, and extending the service life of offshore processing equipment.
The redevelopment of the Sèmè field represents a significant step in revitalizing Benin's offshore oil production capabilities. Through strategic partnerships and the application of advanced technologies, Akrake Petroleum aims to enhance resource recovery and contribute to the region's energy sector growth.
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Fugo Tech is focused on the manufacturing of clad metal plate and distributes the Stainless Steel, Titanium, Nickel Alloy, Zirconium and other non-ferrous metal pipes, fittings, flanges, and fasteners.
