Update on Huntington

Stavanger, 16 April 2015: Norwegian Energy Company ASA (Noreco) has been informed by the operator that the Huntington field is now fully back on stream. Currently the field is producing around 28,000 barrels of oil equivalents per day (boepd), corresponding to 5,600 boepd net to Noreco. These production rates are in line with expectations of initial rates from the wells post a period of shutdown. As previously reported, production will naturally decline through 2015.

Production levels at the Huntington field will continue to depend on access to the CATS gas export system. Production may be reduced in June and July this year while planned maintenance is being undertaken at the CATS gas receiving terminal.

Contact: 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.