Rex International's (SGX:5WH) indirect subsidiary, Akrake Petroleum Benin, spudded the first well in the Seme Field in Block 1, Benin, according to a Tuesday filing with the Singapore Exchange.
The drilling was carried out through the Borr Gerd jack-up drilling rig as part of a 100-day three-well work program to redevelop the field.
Drilling for the phased development is expected to be completed during the fourth quarter of the year, with initial production rates expected to be around 15,000 barrels of oil per day.
Shares of the company were up over 2% in recent trading.
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