The drilling of production license 530 - "Heilo" in the Barents Sea commenced today, 16th of September. The drilling will be conducted by the rig "Aker Barents" and is estimated to approx. 50 days.

GFD Suez E & P Norway AS is the operator of the license with a 30% share, while North Energy ASA is a partner with 20% license share. Other partners are Rocksource ASA (20%), Front Exploration AS (20%) and Repsol Exploration Norway AS with 10%.

Contacts:

Erik Karlstrøm, Managing Director, North Energy ASA.
Mob: (+47) 476 52 990 | E-mail: erik.karlstrom@northenergy.no

Knut Sæberg, Chief Financial Officer, North Energy ASA.
Mob: (+47) 918 00 720 | E-mail: knut.saeberg@northenergy.no

Kristin Ingebrigtsen, Director of Strategy and PR, North Energy ASA.
Mob: (+47) 926 05 601| E-mail:kristin.ingebrigtsen@northenergy.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.