Noreco sells Norwegian field stakes

Offshore staff

STAVANGER, Norway – Norwegian Energy Co. (Noreco) has completed the sale of its interests in the Brage and Hyme oilfields offshore Norway to Core Energy.

The consideration to Noreco is $85 million net of tax, and effective from Jan. 1, 2011. A further settlement will be made for the interim period between the effective date and the transaction’s completion date.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...