Stavanger, 2 April 2013: Norwegian Energy Company ASA (Noreco) reports that all subsea preparations have been completed and final commissioning activities are being undertaken at the Huntington field development.
Since the previous update was issued on 21 March 2013, there has been some delays in the project due to weather conditions and technical work which has taken more time than planned. First oil is expected during the first half of April.
After a ramp-up period the field is expected to produce around 6,000 barrels oil equivalents per day net to Noreco.
Noreco has a 20 percent interest in the Huntington field, which is operated by E.ON Exploration & Production.
Kjetil Bakken, Investor Relations Manager ( +47 91 889 889)
This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act
About Norwegian Energy Company ASA
Noreco is an independent Norwegian oil company. The company’s focus is to explore, develop and produce oil and gas in the North Sea region. Since incorporation in 2005, the company has grown through license rounds, successful exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs around 70 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).
For further information, please visit: www.noreco.com