Strategic focus

The oil industry’s long-term driving forces indicate continued increase in demand and higher oil prices. PA Resources will predominantly focus on generating greater value from our existing assets. Additional assets will be moved into the production phase thus enabling the Company to achieve a long-term increase in production. The complementary aim is to increase the amount of reserves and resources through selective exploration.

Ongoing activities and investments are focused on appraising and developing the discoveries that are judged to have the greatest value for PA Resources. Focus is also on exploration of licences with high potential and using existing infrastructure nearby to enable cost-efficient development.

 
Development of prioritised assets

Development of a number of prioritised fields in West and North Africa.

  • Development of Azurite and Aseng completed in 2011

Read more about PA Resources prioritised assets »

Increase reserves and resources 

Selective exploration of the asset portfolio in the North Sea, West Africa and North Africa.

  • Successful drilling campaign in 2011 on 12/06 in Denmark resulted in two discoveries.

Read more about reserves and resources »

Strengthen capital structure

  • Refinancing activities completed in 2011
  • Net debt reduced by SEK 600 million in January – April 2012
  • Low capex and  positive cash flow in 2012