Update on the Process Regarding Siri Insurance Claims

Oslo, 11 May 2018: Following the decision from the Eastern High Court of Denmark in the Siri Insurance Claims appeal case, Noreco will apply to the Danish Appeals Permission Board for permission to appeal the decision to the Supreme Court of Denmark. This because Noreco as a matter of principle finds that the Eastern High Court´s decision is incorrect. This will be done before 1 June 2018, the expected case processing time with the Appeals Permission Board will be around 11 – 13 weeks.

Assuming that Noreco obtains permission to appeal the High Court's verdict to the Supreme Court, Noreco expects that it will take between 1 - 2 years before a final decision from the Danish Supreme Court will be available.

Contact:

Riulf Rustad, Chair

+47 22 33 60 00

ir@noreco.com 

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About Norwegian Energy Company ASA

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.

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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