Norwegian Energy Company ASA

Company Description

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Norwegian Energy Company ASA (Noreco) is a publicly owned company with focus on the oil, gas and offshore industry.

The acquisition of Shell’s upstream assets in the Danish Underground Consortium (DUC) which was completed July 2019 transformed Noreco into the second largest oil and gas producer in Denmark and a significant E&P player. The asset portfolio includes four hubs and 11 producing fields of which three hubs are currently producing and one hub is under redevelopment. The Company has a significant reserves base with net 201 mmboe of 2P reserves and net 200 mmboe of 2C reserves. The DUC is a joint venture between TotalEnergies Denmark A/S (43.2%) as operator, Noreco (36.8%) and Nordsøfonden (20.0%).

Year founded

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2005

Served area

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Europe

Headquarters

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Nedre Vollgate 1, 0158 Oslo – Norway

Shares outstanding

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25,708,424

IPO

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Jan. 1, 2000

Stock exchange(s)

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Euronext Oslo