December and 4Q 2007 production
Stavanger, 10 January 2008: Norwegian Energy Company ASA (OSE:NOR), Noreco's oil, gas and NGL production for 4Q 2007 was 10,500 barrels of oil equivalents (boe) per day, in line with the guidance for the quarter. The average price achieved for the quarter was 83 US$ per boe.
The average daily production in December was 9,150 boe at an average price of 90 US$ per boe.
December production was lower than November mainly due to repair of a water injection pump at the Brage field and a shut down to do pressure testing on the Nini field. At the end of December, these fields were back on normal production.
The production volumes are preliminary and are subject to adjustments, including final allocations between fields, quality adjustments and prices. The average prices stated are after cost of put options.
For further information, please contact:
Scott Kerr, CEO (+47 992 83 890)
Einar Gjelsvik, Vice President Investor Relations (+47 992 83 856)