Noreco announces increased 2P reserves

30 April
2020, Q2

Oslo, 30 April, 2020: Norwegian Energy Company ASA (“Noreco” or “the Company”) published today its Annual Statement of Reserves 2020. Noreco is pleased to announce that, in line with the Company’s ambition to more than replace produced volumes over the medium-term, as of 31 December 2019, its proven plus probable net reserves (2P reserves) are 209 million barrels of oil equivalent (MMboe), an increase of 14 MMboe compared to year end 2018.

The Annual Statement of Reserves will be made available on the Company’s website www.noreco.com