Production

Production - Operated

Point Resources operates the Balder, Ringhorne and Jotun fields on the Norwegian Continental Shelf (NCS). In 2017, the company’s total net daily production was about 47,000 barrels of oil equivalent, whereas 43,000 barrels are net production from North Sea operated fields. The company has a best practice operating organisation with over 50 years NCS experience built on ExxonMobil’s heritage.

Balder

The Balder field is located in PL 001 – the very first license awarded on the NCS with first exploration drilling and first oil discovery. To extend production and field lifetime, several seismic surveys, drilling programs and modifications have been completed and further development plans are currently ongoing. The field’s historical uptime is 97-98 percent.

The Balder field is developed with a floating production, storage, and offloading vessel (FPSO) and several subsea production systems. The field is located approximately 190 kilometres northwest of Stavanger. Production commenced in 1999 and, Balder exports gas to Statpipe via the production vessel Jotun A.

By year-end 2017, the Balder field had produced 225 million barrels of oil.

Point Resources is operator and has 100 percent ownership of the Balder field.

 

Ringhorne

The Ringhorne field is located about 9 kilometres northeast of the Balder FPSO and includes a platform with initial processing and water injection capabilities. Production of oil and gas is routed to the Balder and Jotun installations for final processing, storage and export.

Production commenced in 2003. Ringhorne is equipped with advanced technology and automated drilling equipment and the drillbit can be steered with high precision, making it possible to hit small targets many kilometres away. A new drilling campaign from the Ringhorne platform is currently being planned.

By year end 2017, the Ringhorne field had produced 206 million barrels of oil equivalent.

Point Resources is operator and has 100 percent ownership of the Ringhorne field.

 

Ringhorne East

The Ringhorne East field is located in PL 027 and PL 169 E on the Utsira High. Ringhorne East is developed with four wells from the Ringhorne platform. Production commenced in 2006.

By year end 2017, the field had produced 80 million barrels of oil equivalent.

A drilling campaign is initiated with two additional Ringhorne East production wells in 2019.

Point Resources is operator with an ownership interest of 77.4 percent. The other Ringhorne East partners are Statoil (14.8 percent) and Faroe Petroleum (7.8 percent).

Jotun

The Jotun field in PL 027 B is located in the North Sea, 200 kilometres west of Stavanger.

The field was developed with two installations; a production vessel (Jotun A) and a wellhead platform (Jotun B). Production was permanently shut down in December 2016 due to production decline. Decommissioning activities on the Jotun B installation were initiated in 2015 and will proceed until 2019/2020.

The Jotun A facility provides spare production capacity. In order to utilize this capacity, Balder and Ringhorne are connected to Jotun A via a gas pipeline, allowing parts of the Ringhorne volumes to produce via the Jotun FPSO, in addition to the Balder FPSO.

Point Resources is operator and has 100 percent ownership of the Jotun field. 

Production - Partner-operated

Point Resources has ownership interests in four partner-operated producing fields on the Norwegian Continental Shelf (NCS). In 2017, Point Resources’ daily net production from these fields was around 4,000 boe. Point Resources will continue to work with and influence operators and licensees to maximise value creation in our portfolio of partner-operated assets.

Bøyla

The Bøyla field is located in PL 340 and PL 340 BS, 28 kilometres south of the Alvheim field in the North Sea.

Bøyla is developed with a subsea manifold with two oil producers and one water injector. The field is tied back to the Alvheim FPSO, where oil is exported by shuttle tankers and gas is exported through the subsea gas transport system to St. Fergus.

By year-end 2017, the field had produced 12 million barrels of oil equivalent.

Aker BP is operator with 65 percent ownership interest, while Point Resources (20 percent) and Lundin (15 percent) are partners.

Snorre

The Snorre field is located in PL 057 and PL 089 in the Tampen Area of the North Sea.

The field is developed with two integrated drilling and production facilities. Snorre A is a tension leg platform with 45 dry well slots, while Snorre B is a floating production unit with 28 subsea slots. Production commenced in 1992.

By year end 2017, Snorre had produced 1,436 million barrels of oil equivalent.

Statoil is operator with 33 percent ownership interest, while Petoro (30 percent), ExxonMobil (17.4 percent), Idemitsu (9,6 percent), Dea (8,6 percent) and Point Resources (1,1 percent) are partners.

Brage

The Brage field is located in PL 053 B, PL 055, PL 055B, PL 055 D and PL 185 in the northern part of the North Sea.

The field is developed with an integrated production, drilling and accommodation platform with 40 well slots. Oil is exported to the Sture terminal, while gas is exported via the gas transport system through Statpipe. Production commenced in 1993 with a historical uptime of 95 percent.

By year end 2017, the field had produced 406 million barrels of oil equivalent.

Wintershall is operator with 35 percent ownership interest, while Repsol (34 percent), Faroe Petroleum (14 percent), Point Resources (12 percent) and VNG (4 percent) are partners.

Hyme

The Hyme field is located in PL 348 in the Haltenbanken area of the Norwegian Sea.

The field is developed with a subsea template, tied back to the Njord field. Oil is exported through the Njord B facility, while gas is transported through the Åsgard transport system.

By year end 2017, the field had produced 15 million barrels of oil equivalent.

Production is expected to resume in 2020 after completion of the Njord Future Project. The initial production commenced in 2013.

Statoil is operator with 35 percent ownership interest, while Dea (28 percent), Point Resources (18 percent), Engie (10 percent), Faroe Petroleum (8 percent) and VNG (3 percent) are partners.