Noreco announces second quarter 2017 results

Oslo, 23 August 2017: Norwegian Energy Company ASA (“Noreco”) and the subsidiary Noreco Norway AS (“Noreco Norway”) today announce results for the second quarter of 2017.

The reports may be downloaded from the company's web site www.noreco.com or www.newsweb.no.

Contact:

Riulf Rustad, Chair. Tel.: +47 22 33 60 00

investorrelations@noreco.com

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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 licensing rounds, exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs 49 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com.

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.