Scandoil.com

Skip Navigation

Noreco not slowing despite debt, loss


Published Nov 23, 2007
E-mail Print

[an error occurred while processing this directive]

Edit page New page Hide edit links

Noreco acquires two offshore licenses from Chevron Denmark

Stavanger-based North Sea player Noreco, or Norwegian Energy Co., has conceded a NOK100.4 million ($18.6 million) loss for the three months that ended when September 2007 did, citing NOK4.4 billion in debt.

Some NOK270 in operating expenses accrued during the span in which the oil minnow Altinex was bought up and Noreco listed in Oslo. Company managers now boast of some NOK9 billion in assets with 14 discoveries awaiting development.

A company statement said the “potential” existed for a doubling of production to some 20,000 barrels a day by 2010.

“Further consolidation (is) expected in the industry, (and) Noreco intends to take an active role,” a Noreco presentation said.

Tags: Noreco




   

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories
Aker - Haugan
New Chief Executive Officer of Aker Energy Feb 23, 2018 Jan Arve Haugan has been appointed as Chief Executive Officer of the newly established oil company Aker Energy, effective 1 March 2018. Haugan is currently the President & CEO of Kværner ASA.
Rystad Energy - Borr Drilling takes charge of the jackup market
Borr Drilling Goes From Empty-Handed to the Largest Jack-Up Driller In Just 16 Months Feb 23, 2018 “It is remarkable what Tor Olav Troim has achieved in such a short amount of time. Going from two jack-ups in December 2016 to becoming the largest jack-up provider...” says Oddmund Føre, vice president of oilfield service research at Rystad Energy.
VesselsValue logo
Borr Drilling Takes Over Paragon Offshore to Expand MODU Fleet Feb 23, 2018 Borr Drilling’s acquistion of Paragon Offshore will create a USD 3.57 billion MODU fleet.
Southwest Research Institute (SwRI) - IMSF2
SwRI to Host Inaugural International Multiphase Flow Separation Symposium Feb 23, 2018 Southwest Research Institute is bringing together oil and gas industry experts for the International Multiphase Flow Separation Symposium (IMFS2), to be held April 25-26, 2018, at SwRI’s headquarters...
Rendering of the Johan Sverdrup field in the North Sea (illustration: Statoil/TRY)
Further Increasing Johan Sverdrup Value
Feb 7, 2018
Statoil and partners have further increased the value of the Johan Sverdrup field as a result of continued high quality in project execution, good drilling efficiency and further maturation of the resource base.

Faroe Petroleum - Fogelberg discovery and appraisal wells
Faroe Commences Fogelberg Appraisal Well
Feb 6, 2018
Faroe Petroleum has announced the commencement of the Fogelberg appraisal well and contingent sidetrack 6506/9 – 4A and 4S in the Norwegian North Sea (Faroe 28.3%).

BP Capercaillie and Achmelvich Licences
North Sea Exploration Success for BP
Feb 1, 2018
BP has announced two new exploration discoveries in the North Sea. The discoveries are Capercaillie, in Block 29/4e in the Central North Sea, and Achmelvich, in Block 206/9b west of Shetland.

 

 

 

 

 


RSS
RSS
Newsletter
Newsletter
Mobile News
Mobile news
Computer
Our news on
your website

Facebook
Facebook
Twitter
Twitter
Contact
Contact
Tips
Do you have any
tips to us

 

About us | Contact | Privacy |  Terms | 
Editor: Michael Rogers
Copyright 1973-2011. Scandinavian Oil-Gas Online. ISSN 1500-709X. 
Tel: +47 22 44 72 70, Fax: +47 22 44 72 87

sitemap xml


 
Home