Alta, 20 January 2015

North Energy has received two new Norwegian production licences in the 2014 awards in predefined areas (APA) round, according to a press release from the Ministry of Petroleum and Energy today. These awards strengthen and expand the company's portfolio.

"We're very pleased with the outcome of our application in this APA round," says Kristen Berli, vice president exploration and business development at North Energy.

"It's also gratifying that many of the blocks we nominated have been included in today's announcement of Norway's 23 offshore licensing round, and we're looking forward to future work on our application."

The following production licences have been awarded to the company.

• PL 805, covering blocks 7120/2, 7120/3 and 7121/1, is located on the Lopp High in a highly interesting area just east of the Gotha and Alta discoveries, which has just been the subject of modern three-dimensional seismic surveying. North Energy has received a 20 per cent interest.
• PL 591 C, covering block 6507/11, lies in the Norwegian Sea and represents an extension to an existing licence. North Energy's interest in 15 per cent.

Following this award, the company has nine licences in the Barents Sea, 12 in the Norwegian Sea, including two operatorships, and five in the North Sea.

Further information from:

Knut Sæberg, CFO
Mob: +47 918 00 720 | E-mail: knut.saeberg@northenergy.no

Kristin Ingebrigtsen, vice president organisation and communication
Mob: +47 926 05 601 E-mail: kristin.ingebrigtsen@northenergy.no