Production April 2013

Stavanger, 10 May 2013: Norwegian Energy Company (Noreco) produced 4928 barrels of oil equivalents (boe) per day in April 2013, and net realised price was USD 102 per boe adjusted for inventory.

Production per field, April 2013 (boe per day):

Nini East – 2438

Huntington – 778

Oselvar – 754

Nini – 392

Cecilie – 328

Lulita – 239

Enoch – 0

The Huntington field started production mid-April. The experience so far shows good productivity from the wells, in line with expectations. As planned, the operator E.ON Exploration and Production is now performing the final phase of the start-up procedure, involving commissioning of the gas export facilities. When this is completed, production will be brought up to full capacity, which is expected to take place in May.

Production regularity at Nini East was high, while Nini and Cecilie were shut down for six and nine days respectively due to maintenance at the host platform Siri. Oselvar was shut down for five days due to downtime at the host platform Ula and Ekofisk.

Production volumes and prices are preliminary and subject to adjustments, including final allocations between fields, quality adjustments and prices.

Contact:
Kjetil Bakken, Investor Relations Manager (+47 91 889 889) 

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 license rounds, successful exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs around 70 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

For further information, please visit: www.noreco.com