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Norwegian Energy Company ASA Announces Closure of Oselvar Field where Company Holds 15% Interest


Friday, 9 Aug 2013 10:39am EDT 

Norwegian Energy Company ASA announced that due to a defect gas compressor the Ula field will not be able to receive and process production from satellite fields. This means that the Oselvar field is shut down. Noreco's interest in Oselvar is 15%. The defect gas compressor was scheduled to be replaced in mid September 2013. The Ula field operator (BP) is discussing with its vendors if the replacement can be accelerated. Current estimate for start-up of production at Oselvar is towards the end of September. 

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