Noreco unloads Norway unit in clearance sale
Norwegian offshore unit Noreco has for a long time been balancing on the verge of bankrupty. Djerv is now acquiring the group's Norwegian business in what can best be described as a clearance sale.
BY MAZ PLECHINGER, ENERGIWATCH
It is the end of the road for Noreco Noway. In a corporate statement, parent group Norwegian Energy Company informs that it is selling Noreco Norway along with all accompanying licenses, organization and staff to company Djerv Energy. The only thing not included in the sale to Djerv is the 4.36 percent stake in oil field Enoch on the border between the British and Norwegian North Sea. This stake is sold to CapeOmega.
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