Production at Siri restarted
(Thomson Reuters ONE) - Stavanger, 24 January 2010: Norwegian Energy Company ASA (Noreco - OSE:NOR), Oilproduction at the Siri Field in the Danish part of the North Sea has beenrestarted.The field has been shut down since 31 August 2009, after a routine inspectionrevealed cracks in a water buffer tank at the Siri platform. A temporarysolution involving a metal frame that stabilizes the tank is now in place. WithSiri back in production, the production from the satellite fields Nini andCecilie can also be resumed. The recently completed Nini East development willalso start production shortly.A permanent repair of the damage is expected to be finalized in second half2010.Noreco owns 50% in Siri, 30% in Nini and 61% in Cecilie. Noreco`s share ofproduction from these fields prior to the shutdown amounted to roughly 6,000barrels per day. Furthermore, Nini East (30% Noreco) is expected to contributewith around 3,000 barrels per day to Noreco when the field reaches fullproduction.Contacts:Scott Kerr, CEO (+47 992 83 890)Einar Gjelsvik, Vice President Strategy & IR (+47 992 83 856)This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1376520]
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