Stavanger, 5 January 2012: Norwegian Energy Company (Noreco) in December 2011 produced 2,204 barrels of oil equivalents (boe) per day. Net realised oil price was USD 98 per boe after adjustments for oil put options, inventory, NGL and gas prices.

Production was negatively impacted by the weather conditions in the North Sea, prompting periods of shutdown of the Siri platform for safety reasons.

Production per field (boe):
Nini East - 1,226
Nini - 465
Cecilie - 203
Lulita - 205
Enoch - 104

Production volumes and prices are preliminary and subject to adjustments, including final allocations between fields, quality adjustments and prices.

Contact:
Kjetil Bakken, VP Investor Relations (+47 91 889 889)

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)