Norwegian energy firm Noreco has completed a £1.4billion deal to buy Shell’s assets in the Danish North Sea.
Total has paid £750,000 to Jersey Oil and Gas over a North Sea licence it dropped in 2015.
Energy giant Shell has announced an agreement to sell its upstream interests in Denmark for £1.4billion.
Noreco today said it had been informed an appeal had been lodged in relation to its North Sea Siri claim.
Norwegian energy firm Noreco said today that it is due a payment of $14million from the Dvalin project, previously named Zidane.
Noreco said it would put up a fight "irrespective of how long it will take" after an appeal was launched regarding the firm's Siri insurance claim.
Noreco has today finalised the relinquishment of its stake in the Huntington license to Premier Oil.
Noreco said it has won $470million after a court ruling was made in its favour.
Det Norske is to make up to 12 staff members redundant while 50 contractor positions could go by the end of the year.
Noreco's deal to sell its Norwegian petroleum business to Djerv Energi today fell down after failing to rouse enough shareholder support.
Noreco confirmed it would contest the latest ruling in its tax fight with the Danish government.
Norwegian Energy Company ASA (Noreco) today confirmed it was forced to exit the North Sea’s Huntington field, after its licence partners served up a final notice.
Noreco Norway today confirmed it had entered into a sale for all of its exploration licence interests, organisation and management systems.
Norwegian oil firm Noreco said yesterday it still expected production from the North Sea’s troubled Enoch field to resume before the end of 2015 after “operational issues” on Marathon Oil’s Brae Alpha platform.
A billionaire Norwegian investor in Noreco has died in a boating accident off the Cayman Islands, according to reports. Erik Henriksen was taken to Cayman Islands Hospital following the incident where he was later pronounced dead.
Noreco said its UK subsidiary has been served a notice of default under the Joint Operating Agreement (JOA) governing the Huntington licence in the UKCS. Earlier this year, as the company looked to restructure itself, Noreco Oil UK had agreed to sell its 20% participating interests in the Huntington licence. The process has since been cancelled as no acceptable offers had been put on the table.
Norwegian Energy Company (Noreco) has confirmed that chief executive Tommy Sundt is stepping down, with immediate effect.
Norwegian Energy Company (Noreco) has revealed net production for September is estimated at 3,186 barrels of oil equivalents (boe) per day, down from August's 3,561.
Noreco (Norwegian Energy Company) said the sale of a number of licences has allowed the firm to repay some of its debt and interest. The company has been making moves to strengthen its finances with a restructuring proposal approved earlier this year. In its second quarter results for the year the firm, which has gone through a number of challenges in the past year, said it has made a partial repayment of NOK250million of debt and interest in the NOR10 bond this month.
Noreco has been hit by another field shut-in after the Lulita field was closed due to technical problems. The company said the duration of the current shutdown is unknown. It comes after a number of stops and starts with the Huntington oilfield off the UK.
Noreco has seen production slide on last year’s output. The Norwegian operator reported an average daily production of 4,329 barrels of oil equivalents per day (boepd) last month. The number is a significant drop from last year’s 7,350 for the same time period.
Noreco has cut ties with its joint venture partners in Denmark. The firm confirmed it forfeited its licences and participating interests in the Nini and Cecile oilfields.
Noreco Norway has confirmed it will reduce its headcount by half.
Noreco Norway confirmed it has divested its 15% participating interests in the Norwegian shelf licenses PL274 and PL 274 CS to CapeOmega for NOK210million.
Noreco confirmed its bid to terminate employee board representation at the parent company level has been successful.