Kuwait Foreign Petroleum Exploration Company (Kufpec) has divested its 10% interest in Norway's Yme oilfield in the Norwegian North Sea to Lime Petroleum.

The deal was announced by Rex International of Singapore, which is the majority shareholder in Lime.

The transaction consideration is US$68 million of which Nkr309 million (US$33 million) is in deferred tax assets that are recoverable for Lime.