Production September 2015

Stavanger, 8 October 2015: Net production for Norwegian Energy Company ASA (Noreco) in September 2015 is estimated at 3 186 barrels of oil equivalents (boe) per day.

Net realised price in September was USD 43.2 per boe (USD 46.3 per barrel of oil) after adjustments for inventory, NGL and gas prices.

Production per field in September 2015 (August 2015 in brackets):
All in boepd

Huntington – 2 703 (3 084)
Oselvar – 483 (478)
Lulita – 0 (0)
Total – 3 186 (3 561)

The Huntington field has had stable production throughout the month, only interrupted by a few short shutdowns.

The Oselvar field has had stable production throughout the month. As reported on 1 July 2015, Noreco’s interest in the Oselvar field has been sold with effect from 1 January 2015. Noreco will continue to report Oselvar production and revenue until completion of this transaction.

The Lulita field has been closed in since early July due to technical problems. The duration of the shut down is presently unknown.

Contact:
E-mail: investorrelations@noreco.com

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About Norwegian Energy Company ASA

Noreco is an independent Norwegian oil company. Noreco was incorporated in 2005 and operates in Norway, Denmark and United Kingdom. The company’s stock is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com.