OVERVIEW Germany is the eighth largest producer of oil and gas in Europe. The oil and gas industry in Germany has been in existence since 1860, when the first oil discovery was made at Wietze in Lower Saxony. Prior to the development of the North Sea, Germany's oil and gas reserves were by far the largest in Western Europe. Today, Germany is primarily a gas producing country, with almost all production onshore.1 Germany holds 105.84 million barrels of proven oil reserves as of 2025, ranking 69th in the world and accounting for about 0.0060 per cent of the world's total oil reserves of 1.77 trillion barrels. Germany has proven reserves equivalent to 0.1 times its annual consumption levels (based on 2024 data). This means that, without imports, there would be about zero years of oil left (at 2024 consumption levels and excluding unproven reserves).2 Crude oil production in Germany remained unchanged at 30,000 bpd in September 2025 compared to August 2025. Crude oil production in Germany averaged 52,200 bpd from 1994 until 2025, reaching an all-time high of 79,000 bpd in June 2005 and a record low of 16,000 bpd in November 2024.3 According to a Reuters report, Germany had for decades, been dependent on Russia for most of its gas, providing Europe's biggest economy with relatively cheap supply that was a key advantage for the country's industry. With Moscow's invasion of Ukraine, that relationship has ended, forcing Germany - which apart from lignite has no substantial fossil fuel sources of its own - to seek more pricey alternatives elsewhere. Germany imported 1.031 terawatt hours (TWh) of pipeline gas and LNG in 2025, up more than 16 per cent year-on-year, with Norway (44 per cent), the Netherlands (24 per cent) and Belgium (21 per cent) being the top suppliers, according to figures from the country's energy regulator. German gas consumption rose 2.2 per cent to 864 TWh in 2025, with industry accounting for 60 per cent of demand. Consumption was down 13.5 per cent when compared to the 2018-2021 average.4 bpd: barrels per day 1 Wood Mackenzie, Germany upstream summary report, 1 October 2024 2 Worldometer, Oil reserves in Germany (2025) 3 Trading Economics / U.S. Energy Information Administration, Germany Crude Oil Production 4 Reuters, Germany's gas supply in numbers, 2 February 2026 GERMANY Lime Resources Germany GmbH (“LRG”), a wholly-owned subsidiary of Lime Petroleum Holding AS (“LPH”), owns certain assets in the Rhein river valley in Germany, including the Schwarzbach oil field south of Frankfurt. Separately, LPH signed a heads of agreement with Genexco on an option for the Reudnitz gas field in October 2024. A decision on whether or not to exercise the option and become operator of the licence is pending. Rex International Holding Limited 37
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