In March 2017, ExxonMobil Exploration and Production Norway AS (ExxonMobil) and Point Resources AS (Point Resources) signed an agreement on the transfer of ExxonMobil's operated fields on the Norwegian Continental Shelf to Point Resources.
A change of operator entails an application for consent to use the facilities. This is because consent is an expression of the PSA's confidence that the operating company is able to assume responsibility for operations in a proper manner and in compliance with the regulations; it is primarily based on our assessment of relevant aspects of the company's management system.
The PSA has now given Point Resources consent to use the facilities at Balder, Ringhorne, Ringhorne Øst and Jotun.
Balder is an oil field in the central North Sea. Water depth in the area is approximately 125 metres. The field has been developed using subsea wells tied to a production and storage vessel, Balder FPSO. The plan for development and operation (PDO) for Balder was approved in 1996 and production began in 1999.
Ringhorne is part of the Balder field. Ringhorne lies nine kilometres north of Balder FPSO, and has been developed using a combined accommodation, drilling and wellhead facility (Ringhorne). The Ringhorne facility is tied to the Balder vessel and the Jotun vessel for processing, crude oil storage and gas export. Production from Ringhorne began in 2003.
Ringhorne Øst is an oilfield north-east of Balder in the central North Sea. Water depth in the area is approximately 130 metres. The plan for development and operation (PDO) for Ringhorne Øst was approved in 2005. The field is tied to the Ringhorne facility and began production in 2006. The field has been developed using four production wells drilled from the Ringhorne facility at Balder.
Jotun is an oilfield 25 kilometres north of Balder in the central North Sea. Water depth is 126 metres. The field was developed by means of Jotun A, a combined production and storage vessel (FPSO), and the Jotun B wellhead facility. Production began in 1999 and continued until the end of 2016.
Under the disposal decision, Jotun B is to be removed by 2019. Jotun A will continue to be used by Balder, Ringhorne and Ringhorne Øst, until these fields stop producing. Jotun A is to be removed by 2023.