Noreco is founded by local industry leaders
Scott Kerr is announced as managing director
Financing from Lyse Energi, HitecVision, 3i and local investors
Prequalified as license holder on the NCS
Awarded 3 production licenses in the 2005 APA
Awarded 1 production license in the 19th Licensing Round in Norway
Acquisition of two exploration licenses from Dong Norge
Acquisition of license and cooperation agreement with Lundin Petroleum
Acquisition of 3 NCS production licenses from Talisman
Prequalified as an operator on the Norwegian Continental Shelf
Awarded a total of 7 exploration licenses in the 2006 APA
Awarded 2 additional licenses in the 2006 APA
Mandatory offer for all shares in Altinex ASA
Acquisition of Altinex ASA, now a wholly owned subsidiary of Noreco
Participation in rig consortium on West Alpha
550 mill nok private placement
Becomes listed on the Oslo Stock Exchange main list
Acquisition of two Danish and one Norwegian exploration license
Divestment of Altinex Services and Altinex Reservoir Technology
Awarded a total of 9 exploration licenses in the 2007 APA
Acquires Talisman Oil Denmark
Record production of oil, gas and NGL of 15 700 boed
Best quarterly results so far
New record for sale of crude oil was set at 138 USD per barrel
Reports production of oil, gas and NGL of 15 150 boed
Record levels both in revenue, oil production and results in 3Q
Huntington-partnership selects E.ON Ruhrgas UK as new operator
Oil discovery on Gygrid
Gas discovery on Gita
Awarded five licenses in the 20th licensing round in Norway
Oil discovery on Grosbeak
Nini East development completed
Oselvar development approved by Norwegian authorities
Successful private placement and subsequent offering
Arrange our first Capital markets day
Celebrate 5-year anniversary
First oil Nini East
Purchase of license 02/05 in Denmark from Elko
Grosbeak discovery (PL378) sold to Talisman Energy Norge AS
Gas discovery on Zidane (PL435)
2010
September
Divestment of Grosbeak
November
Huntington field development approved
2011
January
Noreco is awarded 3 licences in APA 2010
February
Noreco is awarded licence 1/11 (Luna) in Denmark
April
Noreco was in the 21st licensing round offered a 40 percent interest in PL606, and a 20 percent interest in licence PL599
June
The board appoints Einar Gjelsvik as new CEO in Noreco
July
Sale of interests in the Norwegian oil fields Brage and Hyme to Core Energy
Interest in the Siri field sold to DONG Energy
August
New board unanimously approved at the extraordinary general meeting 19. August
Interest in the Danish oil field South Arne sold to Hess Denmark ApS
Share of Flyndre Paleocene sold to Maersk Oil
A small gas discovery is made on Cortina
The Zidane gas discovery sold to OMV
Brynhild development sold to Lundin
2012
Awarded three licences in the UK licensing round
Awarded eight licences in APA 2011
Drilling of the Noreco-operated exploration well Luna-1X in licence 1/11 in Denmark starts
March
The NPD gives drilling approval for the Noreco-operated exploration well 7228/1-1 on the Eik prospect in the Barents Sea
Drilling on the Eik prospect starts
Production starts from the Oselvar field
Noreco was established in Stavanger in 2005 on the initiative of experienced players in the oil industry and industrial and financial investors. The background for the initiative was to take advantage of the great opportunities in the North Sea that the major players do not wish to take part in. Above you will find the most important events in our history.