Substantial Growth Potential
Point Resources currently holds a total of 47 licenses:
- North Sea: 27
- Norwegian Sea: 13
- Barents Sea: 7
Point Resources’ portfolio includes three producing fields:
The Company also has an interest in the Hyme field which was shut down in June 2016 as a consequence of the re-modification and repair of the Njord A platform. Production from Hyme is expected to resume in 2020.
In 2016 the combined average production from these fields, net to Point Resources, was 6,400 boe/day.
Point Resources has interests in several discoveries made on the NCS in recent years:
- Garantiana (discovered in 2012)
- Bauge (discovered in 2013)
- Pil & Bue (discovered in 2014)
- Brasse (discovered in 2016)
The discoveries are at various stages in the planning process and are expected to be in production within 3 to 4 years.
The Company’s reserves and contingent resources amount to 158 mmboe with prospective resources of 175 mmboe.