Siri update
(Thomson Reuters ONE) -
Stavanger, 15 June 2011: Norwegian Energy Company ASA (Noreco) owns 50 percent
of the Siri oil field in Denmark, where technical study work is
ongoing to identify and implement a repair of the platform. Noreco has over an
extensive period matured a technical repair solution which can be implemented
immediately, which will address the necessary aspects related to health, safety
and environment, and which will be the best commercial and economic solution for
the license.
Noreco notes that DONG Energy, the operator of Siri, today announced it will
implement a solution which has not been sanctioned by the Siri license. Noreco
considers DONG Energy's solution to be technically immature and not in
accordance with the decision criteria which have been proposed by the operator.
The license agreement requires unanimity, consequently DONG would have to
execute this project at its own cost and risk. Noreco will not participate in,
nor finance, such a project. Noreco will initiate the necessary measures to
protect its own position, including but not limited to risks, damages,
liabilities and potential consequential losses.
Contact:
Kjetil Bakken, VP Strategy & Investor Relations (+47 91 889 889)
Einar Gjelsvik, CEO (+47 992 83 856)
Jan Petter Stiff, Media contact (+47 995 13 891)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NORECO via Thomson Reuters ONE
[HUG#1523533]
Unternehmensinformation / Kurzprofil:
Datum: 15.06.2011 - 10:25 Uhr
Sprache: Deutsch
News-ID 55574
Anzahl Zeichen: 2117
contact information:
Town:
Stavanger
Kategorie:
Business News
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"Siri update"
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