Exploration financing for Noreco

November 28th, 2007

Norwegian Energy Company ASA (Noreco) is seeking a loan agreement for NOK 800 million to finance the company’s exploration and appraisal program on the Norwegian Shelf, which includes approximately 30 wells over the next 3 years. Noreco has entered into a term sheet with Sparebanken 1 SR-Bank and DnB NOR.

The facility is subject to a loan agreement between the parties, and will replace the existing exploration financing facility of NOK 260 million.

News

Exploration financing for Noreco

Related news and insights

Taaleri and HitecVision accelerate Fintoil’s growth to capture surging demand for advanced biofuels

St1 Biokraft expands into Denmark with Danish Bio Commodities acquisition

Secondary placement of existing shares in SED Energy Holdings Plc successfully completed and major shareholding notification