Production update Danish fields

Stavanger, 26 August 2013 – Restart of production from the Nini, Nini East and Cecilie fields, which the operator planned last week, has been delayed.

According to the operator of the Siri platform, which hosts production from the three satellite fields, production is not likely to resume this month.

As previously reported production from the Nini, Nini East and Cecilie fields in which Norwegian Energy Company (Noreco) has an ownership interest were shut down in the middle of July when a new crack was discovered in the sponson tank at the Siri platform. While a permanent repair of the Siri platform is not expected until next summer, the operator DONG Energy has said that production from the satellite fields may continue through a temporary solution, which involves direct loading to a tanker.

According to the operator, this solution is now ready to restart from an operation and facility point of view, but the company has not yet received the necessary approvals from Danish authorities. The operator strives to re-establish production as soon as possible.

Contact:
Ørjan Gjerde, CFO (+47 900 35 738)

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act
 

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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 license rounds, successful exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs around 70 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

For further information, please visit: www.noreco.com