Changes to employee representation

Stavanger, 30 March 2015: Employee representative Bård Lærum has stepped down from the board of Norwegian Energy Company ASA ("Noreco" or the Company"), as the number of employee representatives on the board is reduced to one. Following the completed restructuring, the Company is in the process of seeking to move the employee representation from the Company to Noreco Norway AS, being the employer to most of the group's employees. Pending such move and following Lærum's resignation, the Company's board now consists of Silje Augustson (chair), Riulf Rustad, Julian Balkany, Lotte Kiørboe (employee representative) and Andreas Greve-Isdahl (alternate).


This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act.


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: