Stavanger, 11 August 2011: Norwegian Energy Company ASA (Noreco, OSE:NOR) in July 2011 produced 4,225 barrels of oil equivalents (boe) per day. Net realized oil price was USD 112 per boe after adjustments for oil put options, inventory and NGL and gas prices.

Noreco's share of production from the Siri area fields in July was about 2,425 boe/day. Production was shut down for 17 days due to leakage in a riser between the Siri platform and a subsea storage tank. The produced oil is currently being stored directly on tankers pending repairs. Noreco's equity production per field: Siri 500 boe/day, Nini East 1,225 boe/day, Nini 600 boe/day, Cecilie 100 boe/day. Noreco in July entered an agreement to sell its share in the Siri field with economic effect from 1 July 2011.

South Arne production was 1,450 boe/day net to Noreco.

Net production to Noreco from each of the Lulita and Enoch fields was 225 and 125 boe/day respectively.

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

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

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