Huntington field development plan approved by DECC

Stavanger, 16 November 2010: Norwegian Energy Company ASA (Noreco, OSE:NOR) is pleased to announce that the Field Development Plan for the Huntington field has been approved by the Department for Energy and Climate Change (DECC).  

Huntington will be developed using the FPSO Sevan Voyageur, and as previously announced the leasing contract for this unit was signed last week. Production is expected to commence in the first quarter of 2012.  

The Huntington field is located in Block 22/14b in the UK part of the Central North Sea. Noreco has a 20% interest in the block, which is operated by E.ON Ruhrgas UK E&P (25% interest). The other partners are Premier Oil UK Limited (40%) and Carrizo Oil & Gas, Inc. (15%).  

For further information, please contact:
Scott Kerr, CEO (+47 99 28 38 90)
Kjetil Bakken, Investor Relations Manager (+47 91 889 889)

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

About Us

Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: www.noreco.com.

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