Key Highlights from the Report

• Completion of Key Infrastructure: The hook-up of the Mobile Offshore Production Unit (MOPU) and the Floating Storage and Offloading unit (FSO) on the Sèmè Field is now complete.
• Anchoring of FSO Kristina: Over the past week, the FSO Kristina was successfully anchored and positioned at the site.
• Installation of Flow-Line: A flow-line connecting the Stella Energy 1 MOPU to the FSO has been laid, facilitating the transfer of produced oil.
• Commissioning Underway: The commissioning process is well underway, with oil now flowing into the FSO, marking the transition from development to initial production operations.
• Upcoming Production Ramp-Up: The company plans further testing and optimization of production rates in the coming days, with the intention to commence regular production shortly.
• Ownership Structure: LPH is an indirect 89.74% subsidiary of Rex, and Akrake Petroleum Benin S.A., the Sèmè operator, is an indirect wholly-owned subsidiary of LPH.

Implications and Potential Impact on Shareholders

• Transition to Production: The commencement of oil flow into the FSO marks a major milestone moving the Sèmè Field from development to production. This development can significantly impact Rex’s revenue streams and future cash flows, potentially affecting its share price.
• Production Optimization: The focus on optimizing production rates and starting regular production signals imminent revenue generation from the Benin asset. The market typically views such transitions positively as they denote project execution capability and near-term cash inflows.
• Material Exposure: Given Rex’s 89.74% effective interest in LPH, and LPH’s 100% indirect ownership of the field operator, the financial impact of successful production will be substantial for Rex International Holding.
• Operational Risks: While the commissioning is progressing, further testing is ongoing. Investors should be mindful of potential operational risks inherent in new production start-ups, although no specific problems or delays have been reported.
• Forward-Looking Statements: The company cautions that projections and statements about future performance are subject to various risks and uncertainties, including industry and economic conditions, cost factors, and regulatory changes.

About Rex International Holding

Rex International Holding Limited is a multinational oil exploration and production (E&P) company listed on the Singapore Exchange Mainboard. The group has interests in exploration and production licenses across Norway, Germany, Oman, and Benin, and is the operator in Oman, Benin, and Germany. Rex deploys its proprietary Rex Virtual Drilling technology to de-risk exploration and development, using seismic data to identify subsurface hydrocarbons.

Investor Takeaways

• This operational update marks a significant inflection point for Rex International Holding, with the transition of the Sèmè Field to the production phase likely to influence near- and medium-term financial performance.
• The successful commissioning and ramp-up of production could positively impact the Group’s valuation and investor sentiment, making this a potentially price-sensitive development.
• Shareholders are encouraged to monitor subsequent updates as the commissioning and production optimization progress, as these will provide further clarity on the revenue and cash flow outlook.

Disclaimer: This article is based on information provided by Rex International Holding Limited as of 5 March 2026. The information contains forward-looking statements that are subject to risks and uncertainties. Actual results may differ from expectations. This is not investment advice. Investors are advised to conduct their own due diligence and consult professional advisors before making any investment decisions.

View Rex Intl Historical chart here