NORWEGIAN private equity-backed player Point Resources has lined up drilling plans over the next few years after sealing a deal to buy almost all of ExxonMobil’s operated upstream assets in Norway.
The relative newcomer, backed with cash from HitecVision, will pour investment into the assets to raise production and prolong field life, with the US supermajor’s in-country staff expected to be kept on due to the “number of development plans and opportunities” presented by the deal.
