Noreco reaches agreement with partners in Denmark
Stavanger, 2 July 2015: Norwegian Energy Company ASA (“Noreco” or the “Company”) announces that it has reached an agreement with its joint venture partners in Denmark with respect to its forfeited licences and related abandonment liabilities. Noreco has terminated its joint venture and its participation in the Nini and Cecile oilfields (the “Licences”). According to provisions in the respective joint operating agreements, Noreco has forfeited and transferred its participating interests in the Licences to the Partners on a pro-rata basis. In addition, the settlement for claims on