Noreco accumulates Norway interests

Offshore staff

OSLO, Norway --Norwegian Energy Co. (Noreco) is set to acquire 12% of PL440 in the southern Norwegian North Sea from Lundin Norway.

The two parties initially agreed the transaction following Norway's APA 2006 licensing round.

Noreco also has approval from the government for three other license farm-ins:
- 10% of PL256 from Dong E&P Norge
- 15% of PL274, including the Oselvar discovery, from Revus Energy
- 35% of PL316 CS from Talisman Energy Norge.

10/04/2007