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Njord selected as host for Point Resources' Pil and Bue development

HitecVision is pleased to announce that the partners in licence PL586 on the Norwegian Continental Shelf have decided that a subsea tie-back to the Njord A platform in the Norwegian Sea is the preferred development concept for the Pil & Bue discoveries, in which Point Resources holds a 45 percent working interest.

The decision is an important milestone for Point Resources, as it secures a cost-efficient development of the discoveries estimated to hold between 90-130 million boe of resources, with considerable exploration upside in the licence.

In a process where three competing concepts have been matured, the partners in licence PL586 on the Norwegian Continental Shelf have decided to develop the Pil & Bue discoveries as a subsea tie-back to the Njord A platform in the Norwegian Sea. Point Resources is the largest owner in the field with a 45 percent interest share, while VNG is the operator.

www.pointresources.no