Lime Petroleum AS has entered into an agreement to divest its 20% WI in PL850 to an unnamed, unrelated third party. The transaction was announced on 15 October 2018 by Rex International Holdings which holds 90% stake in Lime, and will be backdated to 1 January 2018, pending regulatory approval. PL850 covers 1,028 sq km (7124/6, 7125/4, 5, 6, 7126/1 and 4) in the Barents Sea, was awarded on 5 February 2016 (APA 2015) and remains undrilled with a drill or drop decision expected by 5 February 2019. The divestment of PL850 follows unsolicited, non-binding indications of interest received on 17 September 2018 from unrelated third parties regarding Lime Petroleum's portfolio of Norwegian licences. However, Lime Petroleum plans to focus on its core assets in the North Sea bringing them to production in 2020, these include PL338 C (Lundin Op, Lime 30%), PL815 (Lundin Op, Lime 20%) and PL818 & PL818 B (Aker BP Op, Lime 30%). Lime's Norwegian Sea asset PL841 is potentially still an option for divestment. Pending regulatory approval PL850 is operated by Edison Norge AS (40%) in partnership with Kufpec Norway AS (20%), PGNIG Upstream Norway AS (20%) and Lime Petroleum AS (20%). 
Rex advises that it has sold its subsidiary Limeâs 20% (Edison op. 30%, Kufpec 20%, PGNiG 20%, Lundin 10%) in PL 850 (1028kmÂ²), The buyer has not been disclosed.