Noreco starts first operated well in Norway
Stavanger, 28 August, 2009: Norwegian Energy Company ASA (Noreco, OSE:NOR), Exploration drilling on the Tasta prospect in Norway starts today. Noreco has a 40 per cent ownership share and is the operator.
- This is our first well as operator in Norway, and marks an important milestone in our efforts to build a leading, independent oil and gas company in the North Sea region, says Scott Kerr, Noreco CEO.
The Tasta prospect is situated 15 km East of the Jotun field in the Norwegian part of the North Sea, in a very interesting license (PL412) in a prolific hydrocarbon province with infrastructure in place. Noreco's resource estimate for Tasta is 34-91 million barrels hydrocarbons gross. More information is attached.
The well is being drilled by the rig West Alpha. Results are expected in October.
Contacts:
Scott Kerr, CEO (+47 992 83 890)
Einar Gjelsvik, VP Strategy & Investor Relations (+47 992 83 856)