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Norwegian Energy Company ASA Receives MPE's Approval for Transferring Production Licenses to Subsidiary as Part of Company Reorganization

Tuesday, 30 Oct 2012 02:55am EDT 

Norwegian Energy Company ASA announced that it has received approval from the Norwegian Ministry of Petroleum and Energy (MPE) regarding the transfer of all production licenses and operatorships from Norwegian Energy Company to its subsidiary Noreco Norway AS. Norwegian Energy Company announced on September 28, 2012 a plan to reorganize the group structure in order to provide for more efficient operations. The Company will now continue preparing for the transfer of all related assets, contracts and personnel, which is contemplated to be done with effect from year end 2012. 

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