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PDO for the Fenja field submitted

The owners of the Fenja field have today submitted the Plan for Development and Operation (PDO) for the field to the Ministry of Petroleum and Energy. Approximately 10 billion NOK will be invested in the field development, with planned start-up in 2021. Point Resources is the largest owner in the field, with a 45% holding.

The Fenja field is located in the Norwegian Sea at Haltenterassen, about 120 km north of Kristiansund. The field contains recoverable resources of approximately 100 million barrels oil equivalents, mostly oil. 

«As the partner with the largest interest, this is a vital development project for us. We look forward to continuing our cooperation with the field operator VNG Norge AS to produce these volumes», says Morten Mauritzen, CEO of Point Resources AS.

Fenja will be developed with two subsea templates with six wells connected to the Njord A platform for processing and storage and export via the Njord B storage vessel.  

The other licensees in PL586 are VNG Norge AS (30%) and Faroe Petroleum Norge AS (25%).  The development is subject to approval from Norwegian authorities.