16 January 2017
Point Resources awarded 5 licences in APA 2016
Point Resources is pleased to announce that it has been awarded 5 new production licences on the Norwegian Continental Shelf as part of Norway’s Awards in Predefined Areas (APA) 2016 licensing round.

The licences awarded to Point Resources are PL740B (50%), PL748B (20%), PL869 (20%), PL821B (40%), PL777C (20%). The Company’s application for these licences reflect its strategy to focus on near field opportunities in its core areas of interest in the North Sea and Norwegian Sea.

Point Resources’ aim is to identify value potential in and around existing producing fields and infrastructure leading to fast track tie back developments. The Company has interests in producing fields Snorre, Brage, Bøyla and Hyme. Production from the Hyme field is currently suspended due to the re-modification of the Njord platform. Point Resources also has discoveries in its portfolio including Pil & Bue, Garantiana and Brasse and an interest in the Bauge development.