Tyra II: Successful Completion of Final Offshore Lifting Campaign

Oslo, 10 October 2022: Norwegian Energy Company ASA ("Noreco" or the "Company") is pleased to announce that the final offshore lifting campaign of the Tyra Redevelopment project was successfully completed at 17:04 local time on Sunday 9 October 2022.

Following the lift and installation of the process module (the “TEG”) on 4 October, Heerema Marine Contractors’ Sleipnir has lifted in place the two remaining bridges and flare tower and as such all major offshore lifts for Tyra II are completed. Following the lifts, the offshore team will finish the welding work connecting the TEG to the installations already in place and then focus on the remaining hook-up and commissioning. 

"We are proud to announce that the final offshore lifts of Tyra II have been safely completed, ahead of time. The offshore lifts have been executed during a period where weather conditions in the North Sea can be challenging, and I’m impressed by the timing and execution by the offshore teams from TotalEnergies and Heerema. During times when energy security is critical, the importance of Tyra II cannot be overstated. The reinvigorated facilities provide a state-of-the-art gas processing infrastructure that will unlock further development of the DUC's material discovered resource portfolio at a substantially lower emissions intensity. This is a strategic step in unlocking a valuable and important future for the DUC," said Marianne Eide, Chief Operating Officer in Noreco 

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Contact: 
Cathrine Torgersen, EVP Investor Relations & ESG 
Phone: +47 915 28 501 
Email: ct@noreco.com 

About Norwegian Energy Company ASA: 
Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The Company's shares are listed on the Oslo Stock Exchange with ticker: "NOR". For further information, please visit: www.noreco.com.