Appointment of new CFO

Oslo, 25 April 2019: Norwegian Energy Company ASA (Noreco) is pleased to announce the appointment of Olav Haugland as Chief Financial Officer (“CFO”) with effect from 1 May 2019.

Haugland has over 25 years of experience as a CFO in the shipping and oil service industries and will bring additional experience to Noreco. He has held executive positions within several companies including Sinvest ASA, Kistefos AS and Farstad Shipping ASA. Haugland comes from the position as Chief Executive Officer in Ocean Installer Holding AS.

For further information please contact:

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.

About Us

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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