RISC completes Independent Reserves Report for Noreco’s Danish North Sea assets

RISC was commissioned by Noreco to write an independent reserves report for its Danish North Sea assets, using the reserve definitions in SPE Petroleum Resources Management System 2018 (PRMS). RISC’s work was included as part of its financial reporting on Oslo Børs (ticker “NOR”) for year-ending 2020.

Noreco holds a non-operated interest in the Danish Underground Consortium (“DUC”) asset. The DUC comprises 11 producing fields from four production hubs: Dan, Gorm, Halfdan and Tyra.

Noreco reported 2P reserves of 201 MMboe at year end. Since completing the DUC acquisition in 2019, the 2P reserves replacement ratio is 104 percent.

More information can be found in the 2020 Annual Report and the 2020 Annual Statement of Reserves, at www.noreco.com/

Noreco’s Danish North Sea Assets

RISC has over 25 years of experience delivering Competent Persons Reports (CPRs), independent expert opinion, due diligence, and reserves and resources reports to organisations around the world. Our reserves reports are used worldwide to support project financing and filings to stock exchanges. This includes LSE, AIM, ASX. TSX, OSL, SGX, and others.

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