Norsk Hydro ASA Company News

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Sentry Petroleum Appoints Former Norsk Hydro Analyst to Board of Directors
Monday, December 29, 2008Sentry Petroleum announced that Arne Raabe has agreed to join the Board of Directors.

Hydro Under Investigation for Former Libya Oil Operations
Tuesday, October 07, 2008The investigation report into Hydro's former oil operations in Libya and consultancy agreements relating to the company's international oil and gas operations was submitted today to the Norwegian National Authority.

SeaBird First Contract Award for SeaBed Operations
Monday, April 28, 2008SeaBird has received a letter of award from Total E&P Angola for an ocean bottom nodes seismic acquisition survey in Angola. The concessionaire of Block 17 is Sonangol.

Norsk Hydro Votes in Hansen as Board Member
Wednesday, March 12, 2008Hansen replaces Svein Rennemo, who has asked to step down as member of the board.

NPD Issues Drilling Permit to StatoilHydro for West Alpha Rig
Tuesday, March 11, 2008The Norwegian Petroleum Directorate has granted StatoilHydro Petroleum AS a drilling permit for wellbore 6507/11-9, cf. Section 8 of the Resource Management Regulations.

Halliburton Optimization Technology Aids Oseberg Development
Tuesday, November 13, 2007Sperry Drilling Services used its new InSite ADR Azimuthal Deep Resistivity Sensor to assist Norsk Hydro in the optimization of well placement on its Oseberg Field development project in the North Sea.

Hydro to Terminate NYSE Listing
Tuesday, October 23, 2007Norsk Hydro ASA, on October 22, 2007 resolved to delist the Hydro share for the NYSE and terminate registration and reporting obligations to the SEC.

Norsk Hydro Elected New Board Members
Thursday, October 18, 2007Billy Fredagsvik and Joern B. Lilleby have been elected members of Norsk Hydro's Board of Directors.

Aker Eyes North Sea Licenses
Wednesday, October 17, 2007Aker Exploration has entered into agreements with the international oil company Eni Norge to acquire ownership interests in two licenses in the vicinity of the Asgard field.

Hydro Celebrates Official Opening of the Ormen Lange Gas Field
Friday, October 05, 2007Hydro celebrates the official opening of the Ormen Lange gas field on Saturday, October 6, 2007. This celebrations marks the completion of project director, Tom Rotjer’s final major oil and gas assignment.

StatoilHydro Now One
Monday, October 01, 2007The merger between Norwegian companies Statoil and Norsk Hydro came to completion today with the first day of trading on the stock exchange as StatoilHydro.

Acergy Wins $58 Million Ormen Lange Contract
Friday, September 28, 2007Acergy has been awarded a $58 million contract for the installation of a MEG line and umbilical and tie-in on the Ormen Lange Southern field development project.

Shares of Newly Combined StatoilHydro to Begin Trade on October 1st
Thursday, September 27, 2007The merger between Statoil and Norsk Hydro’s petroleum business is expected to be implemented on October 1, 2007. Shares in the new company will begin trading on that day.

Cecilie Ditlev-Simonsen Leaves Hydro
Wednesday, September 19, 2007Executive VP Cecilie Ditlev-Simonsen is leaving her position with Norsk Hydro. According to acting board chairperson, Elisabeth Grieg, an agreement was signed by both Grieg and Ditley-Simonsen in which an acceptable solution was reached.

Statoil, Hydro Merger to be Complete on October 1st
Tuesday, September 18, 2007The merger between Statoil and Hydro's oil and gas activities is expected to be implemented before the markets open on Monday October 1st.

Norsk Hydro Finds Gas Near Njord
Monday, September 17, 2007Hydro is close to concluding the drilling of exploration well 6407/7-7S in the Njord area in the North Sea. There are proven gas/condensate reserves in the well.

Plexus Wins New Contract from Norsk Hydro
Monday, September 17, 2007Plexus Holdings has signed a contract with Norsk Hydro Produksjon AS to supply a proprietary POS-GRIP® wellhead system for use in the Norwegian North Sea.

Grenland Wins Contract to Modify Oseberg Field Center
Monday, September 17, 2007Grenland Group has been awarded an EPCI contract to modify the Oseberg Field Center so that it can operate at a lower production pressure.

Norsk Hydro Responds to Lifeboat Request from the PSA
Friday, September 14, 2007Hydro sent a letter to the Norwegian Petroleum Safety Authority outlining the measures taken by the company following new trials to test lifeboat operation in difficult conditions.

Gas Production Begins at Ormen Lange
Thursday, September 13, 2007Gas production from the Ormen Lange field on the Norwegian continental shelf began at 11:02 CET on September 13. Completion of this breakthrough development will make Norway the world's second-largest exporter of natural gas.

Norsk Hydro Completes Capital Reduction
Thursday, September 13, 2007Norsk Hydro completed a capital reduction on Tuesday by cancellation of 38,498,506 shares at a value of NOK 3.66 per share which included 16,871,506 shares redeemed by the Norwegian State, represented by the Ministry of Trade and Industry.

Key Dates Established for Statoil, Hydro Merger
Wednesday, September 12, 2007Norsk Hydro and Statoil's merger of both companies' oil and gas activities to form StatoilHydro ASA is expected to be completed October 1, 2007.

Hydro Chairperson and Three Board Members Step Down
Wednesday, September 12, 2007Hydro's nomination committee is in a process to nominate a new board chairperson and board members for Hydro's upcoming board election.

Hydro Signs New Deal for UK Heavy Oil Exploration
Tuesday, September 11, 2007Hydro has reached an agreement with Silverstone Energy Limited and Wilderness Energy UK Limited for close cooperation on the licenses P-1207, P-1282 and P-1496 in Quadrant 9 on the UK continental shelf.

Aker Exploration Take 30% Stake in License 428 Offshore Norway
Wednesday, September 05, 2007Aker Exploration has entered into an agreement with Norsk Hydro Produksjon AS to acquire a 30% share in license 428 in the Norwegian Sea.

Norsk Hydro Drills Dry Well in Farsund Basin
Tuesday, September 04, 2007Norsk Hydro says wildcat well 11/5-1 in the Farsund basin was dry. The well is the first exploration well in production license 317, which was awarded in the 18th licensing round in 2004.

AGR Wins Contract to Dismantle Two Deck Cranes at Oseberg Field Center
Monday, September 03, 2007Norsk Hydro has awarded AGR an EPCI contract in connection with the dismantling of two deck cranes at Oseberg Field Center.

AGR Group to Use New Excavation Technology at Ormen Lange
Wednesday, August 29, 2007Norsk Hydro has signed a NOK 87 million agreement with AGR Subsea AS to deploy AGR Group's new seabed excavation technology, the Claycutter X, at Ormen Lange in mid 2008.

Hydro Secures Stake in 13 Gulf of Mexico Blocks
Tuesday, August 28, 2007Hydro secured ownership shares in all five deepwater prospects (seven blocks), in whole or in part, and in all six of the shelf prospects.

Hydro Acquires Interests in UK Heavy Oil Fields
Monday, August 27, 2007Hydro has reached an agreement with Chevron North Sea Ltd. to acquire their total interests in the Mariner and Bressay fields on the UK continental shelf.

Norsk Hydro to Use Polar Pioneer to Drill Exploration Well 6609/6-1
Monday, August 27, 2007Norsk Hydro Produksjon AS has received consent to drill exploration well 6609/6-1 using the Transocean Polar Pioneer.

Sonangol Finds Additional Reserves in Block 4/05 Offshore Angola
Friday, August 24, 2007Sonangol has discovered additional reserves in the Gimboa Development Area in the deepwater block 4/05 offshore Angola.

Newfoundland to Pay C$110M for 4.9% Hebron Stake
Wednesday, August 22, 2007Newfoundland Premier Danny Williams said Wednesday the province will pay C$110 million for its 4.9% equity stake in the C$6 billion Hebron offshore oil project.

Norsk Hydro Purchased 311,000 of its Own Shares
Friday, August 17, 2007On August 16, 2007, Norsk Hydro ASA purchased 311,000 own shares in the market at a price of NOK 198.63 per share.

Norsk Hydro to Use West Venture at Troll
Thursday, August 16, 2007Norsk Hydro Produksjon AS has been granted consent to use the semisub, West Venture for production drilling at the Troll field.

Hydro's Corporate Assembly Gives Nod to Board
Tuesday, August 07, 2007Hydro's Corporate Assembly has considered the Board of Directors' termination of the company's stock-option program and given the board a vote of confidence.

Reinås Resigns as Hydro's Chairman
Monday, August 06, 2007Hydro chairman, Jan Reinås has informed the company's Board of Directors that he is resigning his position on the board, effective immediately.

Norsk Hydro Gets Go-Ahead to Use Njord A Facilities
Monday, August 06, 2007Norsk Hydro Produksjon AS has been granted consent to use the newly installed production facilities for gas export on the Njord A facility and the pipeline tied in to the Asgard Transport gas pipeline system from Asgard to Karsto.

Prysmian to Supply Power & Communication Umilicals for Peregrino Project
Thursday, July 26, 2007Prysmian Cables & Systems has signed a Letter of Intent with affiliates of Norsk Hydro and Anadarko Petroleum Corporation for the supply of subsea power and communication umbilicals for the Peregrino development.

Hydro Halts Stock Option Scheme
Wednesday, July 25, 2007Norsk Hydro has decided to end the company's stock option scheme, in accordance with the Norwegian State's 2006 policy concerning executive compensation.

Gaz de France Inks Gas Supply Deal with Norsk Hydro
Monday, July 23, 2007Gaz de France has just signed a new agreement with Norsk Hydro for the delivery of 800 million cubic meters of natural gas per year to the United Kingdom, for a period of four years.

Norsk Hydro Tests First Ormen Lange Gas Production Well
Monday, July 23, 2007Norsk Hydro has successfully tested the first gas production well at its giant Ormen Lange field in Norway using the drillship West Navigator, the company said Monday.

First Gas Flows from Independence Hub
Friday, July 20, 2007first production from the record-setting Independence Hub project has been achieved on schedule and within budget.

Norsk Hydro Extends Consent Solicitation Deadline
Tuesday, July 17, 2007Norsk Hydro Produksjon AS says the extension of its consent solicitation in respect of its 9.125% Debentures due 2014 to July 30, 2007.

Statoil Shareholders Approve Merger with Hydro
Friday, July 06, 2007Statoil shareholders have at today's extraordinary general meeting approved the merger between Statoil ASA and the oil and gas activities of Norsk Hydro ASA.

Statoil Encounters Gas at Yttergryta Wildcat
Thursday, July 05, 2007Statoil has completed drilling an exploration well at the Yttergryta prospect on the Norwegian Sea's Halten Terrace.

Hydro Shareholders Approve Merger
Thursday, July 05, 2007The proposal to merge Hydro's oil and gas activities with Statoil ASA were approved today at an Extraordinary General Meeting. The merger plan was signed by the board of directors of Hydro and Statoil in March.

Cormon Wins Appeal Court Verdict
Tuesday, July 03, 2007The Norwegian Appeal Court has announced its verdict in the case between Cormon Ltd and Norsk Hydro ASA with Corrocean ASA.

Nemo Engineering Awarded Contract for Valve Modules
Tuesday, July 03, 2007Nemo Engineering has been awarded a contract to supply two hot tap valve modules and associated equipment for the remote pipeline hot tap operations on the Ormen Lange Southern Field Development.

ONGC & Hydro in Deepwater Tie-Up
Monday, July 02, 2007Oil and Natural Gas Corporation Ltd. has entered an agreement with Norwegian deepwater expert Norsk Hydro Produksjon AS, to develop deepwater oil and gas blocks off the Indian coasts.