Rex International Holding Ltd. (SG:5WH) has released an update.
Rex International Holding’s subsidiary, Lime Petroleum AS, in a joint venture with OMV Norge AS and Vår Energi ASA, has secured a CO2 storage license in the Norwegian North Sea, marking a significant step towards their goal of a net zero future. The awarded Iroko license, with a capacity to store up to 7.5 million tonnes of CO2 annually for over 30 years, is operated by Vår Energi and represents Lime’s commitment to sustainable energy solutions.
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