Noreco announces entering into partnership with Awilhelmsen Special Opportunities and QVT with regards to the Siri insurance claims

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Oslo, December 18th, 2015: Norwegian Energy Company ASA (“Noreco”), announces signing an agreement to enter into partnership with Awilhelmsen Special Opportunities AS and QVT Financial LP to pursue the Siri insurance claims, with the aim to maximise the proceeds from these.

Noreco believes this partnership will significantly increase the likelihood of success in the on-going litigation. The partnership agreement secures a minimum recovery for Noreco of USD 15 million. Entering into the agreement has no accounting effect.

Contact:

Silje Augustson, Group CEO. Tel.: +47 992 83 900

investorrelations@noreco.com



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