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Corporation
ENERGY & UTILITIES
noreco.com

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Partners & Customers

1

Service Providers

1

About Noreco

Norwegian Energy Company (Noreco) is a publicly owned company with a focus on the oil, gas and offshore industry. The company's shares are listed on the Oslo Stock Exchange. Noreco was established in 2005 focusing on exploration and production of hydrocarbon resources in Norway. The company later expanded into Denmark and United Kingdom via various strategic acquisitions.

Noreco Headquarter Location

Nedre Vollgt. 1

Oslo, 0158,

Norway

+4722336000

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Noreco Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Noreco Rank

Latest Noreco News

Noreco enters CCS project in Danish North Sea

Sep 8, 2021

Noreco enters CCS project in Danish North Sea September 8, 2021, by Nermina Kulovic Norway-based oil and gas company Noreco has entered into a CCS partnership with Denmark’s Ørsted and the Technical University of Denmark (DTU) together with its partners in the Danish Underground Consortium (DUC) on progressing CCS in the Danish North Sea. Harald A and B facilities; Source: Ramboll The DUC consists of TotalEnergies, the operator, and partners Noreco and Nordsøfonden. The DUC is producing 97 per cent of the gas and 85 per cent of the oil from the Danish North Sea and is working on the redevelopment of the Tyra field . Noreco said on Wednesday that Project Bifrost will evaluate the potential for CO2 transport and storage at the Harald field in the Danish North Sea with an expected startup storage capacity of 3 million tons of CO2 per year (m/tpa). Harald is the northernmost field in Denmark, close to the Norwegian median line. It is a gas condensate field. The DUC will lead the CCS partnership and perform technical studies of the reuse of the Harald field infrastructure for CO2 storage as well as CO2 transportation by ship. Ørsted owns the pipeline infrastructure connecting the DUC offshore fields and installations to shore. It will conduct technical studies for repurposing of the existing pipeline infrastructure to CO2 transportation. The newly formed CCS partnership has applied for funding under the ‘Energy Technology Development and Demonstration Programme’ (EUDP), a Danish public subsidy scheme, to develop and select the transport and storage concept for Project Bifrost. The project aims to reuse existing North Sea infrastructure while demonstrating CO2 storage in a depleted offshore gas field. This will be matured towards a final investment decision (FID) if the application for funding and the following development and demonstration program proves successful. The scope of the EUDP application includes a study to qualify the significant potential of utilizing additional DUC North Sea reservoirs as they become available, as well as the possibility to use the existing pipeline infrastructure connecting the DUC fields to Denmark. Source: Noreco As explained by Noreco, reusing the pipeline infrastructure to the Danish shore could be a first step to connect to a future European cost and climate efficient CO2 transportation system. John Hulme, Chief Operating Officer in Noreco, said: “Our assets in the Danish North Sea, especially the unique pipeline infrastructure, could be a potential enabler for establishing Denmark as a CCS hub. Project Bifrost, with its significant storage capacity potential, is the first tangible step Noreco is taking towards ensuring CCS is a part of the green transition in our industry. When oil and gas production gradually cease, the use of existing infrastructure for carbon capture and storage is an attractive alternative from both a climate and economic perspective”. Related Article

Noreco Acquisitions

1 Acquisition

Noreco acquired 1 company. Their latest acquisition was Shell Olie-og Gasudvinding Danmark on October 18, 2018.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/18/2018

$991

Acquired

1

Date

10/18/2018

Investment Stage

Companies

Valuation

$991

Total Funding

Note

Acquired

Sources

1

Noreco Partners & Customers

1 Partners and customers

Noreco has 1 strategic partners and customers. Noreco recently partnered with TotalEnergies on November 11, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

11/6/2020

Partner

TotalEnergies

France

Denmark: Total Delays Tyra Field Start-Up Due To Pandemic, Partner Noreco Says

The start-up of the Total-operated Tyra Project in the Danish Sector of the North Sea is now expected in the second quarter of 2023 , and not in 2022 , Noreco , a partner in the project , said Friday .

1

Date

11/6/2020

Type

Partner

Business Partner

TotalEnergies

Country

France

News Snippet

Denmark: Total Delays Tyra Field Start-Up Due To Pandemic, Partner Noreco Says

The start-up of the Total-operated Tyra Project in the Danish Sector of the North Sea is now expected in the second quarter of 2023 , and not in 2022 , Noreco , a partner in the project , said Friday .

Sources

1

Noreco Service Providers

1 Service Provider

Noreco has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Acquired

Investment Bank

Financial Advisor

Service Provider

Associated Rounds

Acquired

Provider Type

Investment Bank

Service Type

Financial Advisor

Partnership data by VentureSource

Noreco Team

3 Team Members

Noreco has 3 team members, including current Chief Operating Officer, Atle Sonesen.

Name

Work History

Title

Status

Atle Sonesen

Chief Operating Officer

Current

Scott Kerr

Managing Director

Current

Rebekka Glasser Herlofsen

Wallenius Wilhelmsen, Centra Klaveness Invest AS, and SEB Enskilda

Chief Financial Officer

Former

Name

Atle Sonesen

Scott Kerr

Rebekka Glasser Herlofsen

Work History

Wallenius Wilhelmsen, Centra Klaveness Invest AS, and SEB Enskilda

Title

Chief Operating Officer

Managing Director

Chief Financial Officer

Status

Current

Current

Former

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