Appointment of CEO of Norwegian Energy Company ASA

Oslo, 11 May 2016. Reference is made to the stock exchange notice dated 13 October 2015 regarding certain management changes. Silje Augustson has since the day of announcement held the position as group CEO for the Noreco-group in her capacity as executive board member. In order to accommodate for Silje Augustson carrying on with the management of the group’s daily operations, the Board of Directors has today appointed Silje Augustson as general manager and CEO of Norwegian Energy Company ASA, effective from conclusion of the annual general meeting of the company to be held on 26 May 2016. Silje Augustson will resign from the board of directors following the election of her replacement on the annual general meeting.

Contact: investorrelations@noreco.com 

***

About Norwegian Energy Company ASA

Noreco is an independent Norwegian oil company. Noreco was incorporated in 2005 and operates in Norway, Denmark and United Kingdom. The company’s stock is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com.