Insurance claim for pipeline rupture settled
(Thomson Reuters ONE) - Stavanger, 27 November, 2009: Norwegian Energy Company ASA (Noreco -OSE:NOR), Noreco has settled an insurance claim relating to ruptureof the water injection pipeline between Siri and Nini. Under theagreement, Noreco receives a total of USD 20.9 million in coverageunder its insurance policy.Noreco has settled an insurance claim against its underwritersrelated to a rupture of a water injection pipeline between the Siriand Nini platforms in Denmark. The pipeline ruptured in 2007, and therepair and replacement was completed in Q3 2009. Under thesettlement, Noreco receives a total of USD 20.9 million related toloss of production income and repair and replacement costs. Net ofpayments made in advance, Noreco will get USD 15.8 million inpayments in Q4 2009. This is in line with Noreco's expectations andwill therefore not have any significant impact on the company'sincome statement.Noreco actively manages business risk through insurance policies anduse of financial derivatives (including oil price put options).Contact:Einar Gjelsvik, Vice President Strategy & Investor Relations (+47 9928 38 56)This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 27.11.2009 - 12:29 Uhr
Sprache: Deutsch
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