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Noreco awarded five licenses in the 20th round


Published May 4, 2009
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Noreco prequalified as operator on the NCS-Spotlight

Norwegian Energy Company has been offered five licenses in the 20th license round on the Norwegian continental shelf.

We are very pleased with the awards in the 20th licensing round, both in terms of quality and number of the licenses offered to Noreco, says CEO Scott Kerr.

Noreco were awarded five of the total of 21 licenses awarded in the 20th licensing round, second only to StatoilHydro in terms of number of licenses. The licenses Noreco were offered are all in the Norwegian Sea, and provide new, high impact drilling targets to Noreco's portfolio and will significantly increase the risked exploration resources in the company.

The 20th licensing round comes three years after the last licensing round in unexplored areas on the Norwegian continental shelf.

The success in this important licensing round is a demonstration of the excellent exploration team we have in Noreco, says CEO Scott Kerr.

Tags: Norwegian Energy Company ASA



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