Regarding potential claim for damages against the insurers in the Siri case

Oslo, 16 March 2017: Efforts to review and prepare the possible proceedings against the insurers in the Siri case have had good progression and the confidence in the legitimacy of the claims is growing. It will take longer than expected before a final decision about proceeding the claim will be taken.

Contact

Riulf Rustad

Chairman

Tel.: +47 215 15 707 or email: 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.