Production January 2013

Stavanger, 7 February 2013: Norwegian Energy Company (Noreco) in January 2013 produced 3,559 barrels of oil equivalents (boe) per day. Net realised price was USD 108 per boe (adjusted for inventory).

Production per field, January 2013 (boe per day):
Nini East – 1,668
Oselvar – 901
Nini – 502
Lulita – 256
Cecilie – 232
Enoch – 0

Nini East was shut down for seven days, while Nini and Cecilie were shut down for 11 days in January due to maintenance and a weather related shutdown of the host platform Siri.

Oselvar was shut down for about four days due to maintenance at the host platform Ula.

At the Huntington field, all five risers have now been connected to the floating production platform Voyageur Spirit. The remaining activities towards first oil consist of subsea hook-up and testing, and completion and commissioning of the production platform. First oil is still expected during first quarter 2013.

Production volumes and prices are preliminary and subject to adjustments, including final allocations between fields, quality adjustments and prices.


Contact:

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

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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