Noreco Adds Two NCS Licenses

Norwegian Energy Co. AS (Noreco) has been awarded two additional licenses in the 2006 Awards in Predefined Areas (APA) on the Norwegian Continental Shelf (NCS). The licenses are located in the Haltenbanken and Ormen Lange areas.

With the additional licenses, Noreco has been awarded nine licenses and two operatorships in the 2006 APA. Noreco's portfolio now includes a total of 19 exploration licenses, including three discoveries.

"With the two additional awards announced today, Noreco has achieved a very significant result in the 2006 APA and we are very proud of the outcome," said Scott Kerr, Noreco's managing director. "With a total of nine 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."

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