Production April 2015

Stavanger, 8 May 2015: Net production for Norwegian Energy Company ASA (Noreco) in April 2015 is estimated at 5 310 barrels of oil equivalents (boe) per day.

Net realised price in April was USD 55.9 per boe (USD 60.4 per barrel of oil) after adjustments for inventory, NGL and gas prices.

Production per field in April 2015 (March 2015 in brackets):

All in boepd
Huntington – 4 615 (2 018)
Nini – *
Cecilie – *
Oselvar – 411 (453)
Lulita – 285 (52)
Enoch – 0 (0)
Total – 5 310 (2 524)

* As previously reported, Noreco is precluded from receiving production data from the Nini and Cecilie fields in Denmark.

The Huntington field production in April has been stable since mid-April. Production in the first part of the month was restricted due to technical issues at the CATS Riser Platform as previously reported. Following repair of the riser platform, the operator started lifting the Huntington gas export restrictions on 8 April. Huntington was back on full production from 13 April.

The Oselvar field and the Lulita field both reported stable performance through April. At the Enoch field restart procedures have commenced. There have been some delays due to operational issues on the host platform Brae, and the field is now expected to resume normal production in May 2015.

Contact:
E-mail: investorrelations@noreco.com

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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 licensing rounds, exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom. Noreco is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com.