Noreco awarded 2 licences on the Norwegian continental shelf

Apr 18, 2011 12:00 AM

Norwegian Energy Company (Noreco) has been offered 2 licences in the 21st licensing round on the Norwegian continental shelf. “This licence round has opened up for very interesting new opportunities in the Barents Sea and the Norwegian Sea, and has attracted a lot of interest from the industry. We are very pleased to see that Noreco was awarded 2 of its prioritized targets,” says Einar Gjelsvik, CEO in Noreco.

Noreco has been offered a 40 % interest in licence PL606 which is located in the Barents Sea. OMV will be operator for the licence. The company has also been offered a 20 % interest in licence PL599, which is located in a part of the Norwegian Sea where Noreco already has a strong acreage position. This licence will be operated by BG Norge.

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