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Update re closing of the acquisition of Shell’s DUC assets

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Oslo, 27 June 2019: The closing of the acquisition of the shares in Shell Olie- og Gasudvinding Danmark B.V., holding Shell’s economic interest in the DUC concession has been delayed due to an outstanding issue between the seller and the operator of DUC (concessionaire). Noreco expects closing to take place in July.

Contact:

Tel.: +47 22 33 60 00 or email: ir@noreco.com

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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 (ticker NOR). For further information, please visit: www.noreco.com.

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