The geographic focus for Noreco is North West Europe, where we have expertise, there is substantial exploration potential and the infrastructure is in place.
We are investing in capacity for further growth, and will continue to recruit highly motivated oil and gas professionals who will participate in the value creation of the company.
Business development
We believe that significant value can be generated through inorganic activity, and plan to continue our active approach to acquisitions, mergers and divestitures. Transactions will be considered provided that they support the strategic direction and create value for our shareholders.
The active high grading of the exploration portfolio continues to be a key part of Noreco’s strategy. Our view is that to run a successful exploration program, it is important to select carefully which wells to drill and which opportunities not to pursue. This high grading is made on the basis of thorough geo-science work and economic evaluations.