OSLO, Norway: Norwegian Energy Company ASA (Noreco) announced that the Chief Executive Officer, David B. Cook, and the Board of Directors have agreed his resignation from the Company effective today.

Chief Financial Officer, Euan Shirlaw, will take on the formal role of Acting Managing Director in Noreco.

“We would like to thank Mr Cook for his contributions to Noreco and wish him the best of luck in future endeavours,” said Riulf Rustad, Executive Chair in Noreco.

Norwegian Energy Company ASA (Noreco) is a publicly owned company with focus on the oil, gas and offshore industry. The Company’s shares are listed on the Oslo Stock Exchange with ticker: “NOR”. www.noreco.com