Stavanger, 24 January 2010: Norwegian Energy Company ASA (Noreco - OSE:NOR), Oil
production at the Siri Field in the Danish part of the North Sea has been
restarted.





The field has been shut down since 31 August 2009, after a routine inspection
revealed cracks in a water buffer tank at the Siri platform. A temporary
solution involving a metal frame that stabilizes the tank is now in place. With
Siri back in production, the production from the satellite fields Nini and
Cecilie can also be resumed. The recently completed Nini East development will
also start production shortly.



A permanent repair of the damage is expected to be finalized in second half
2010.



Noreco owns 50% in Siri, 30% in Nini and 61% in Cecilie. Noreco`s share of
production from these fields prior to the shutdown amounted to roughly 6,000
barrels per day. Furthermore, Nini East (30% Noreco) is expected to contribute
with around 3,000 barrels per day to Noreco when the field reaches full
production.



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)


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