Rex Int'l unit signs key contracts for Benin oil project

The Mobile Production Unit will be converted from a medium-sized drilling rig.

Rex International Holding's subsidiary, Akrake Petroleum Benin, has contracted a Mobile Production Unit (MOPU) and an Aframax tanker as a Floating Storage and Offloading (FSO) unit for its Benin field development.

The MOPU will be converted from a medium-sized drilling rig and equipped with a purpose-built process package. Both the MOPU and the FSO are expected to arrive in Benin during the fourth quarter of 2025.

Akrake holds an approximately 76% working interest in the Sèmè Field and aims to submit a field development plan and restart production in the field in the second half of 2025.