Noreco awarded 2 additional licenses on the Norwegian Continental Shelf

Stavanger, 1st June 2007:
Norwegian Energy Company AS (Noreco) has been awarded 2 additional licenses in the 2006 Awards in Predefined Areas (APA) on the NCS. The 2 additional licenses are located in the Haltenbanken area and the Ormen Lange area.

With the 2 additional licences, Noreco has been awarded 9 licenses and 2 operatorships in the 2006 APA. Noreco’s portfolio now includes a total of 19 exploration licenses, including 3 discoveries.

“With the 2 additional awards announced today, Noreco has achieved a very significant result in the 2006 APA and we are very proud of the outcome. With a total of 9 awards, we have grown our exploration portfolio significantly, and we have taken another great step towards our ambitions for the company. The award is also a great inspiration and motivation for our ongoing efforts on applications for the 2007 APA”, says Scott Kerr in his comments to the awards.