BLUENORD ASA Oslo ,13 April 2022 :Norwegian Energy Company ASA ("Noreco" or the "Company") is pleased to announce the successful offshore lift and installation of the threeTyra West wellhead and riser platforms ("TW-WHRP"), the utility- and living quarters ("accommodation unit") and two bridges. Over a period of ten days, the world's largest crane vessel, Sleipnir, safely lifted and installed the units in position at the Tyra field in theNorth Sea . The three 3,485 tons wellhead and riser platforms were lifted onto the waiting jackets and installed at Tyra West. The lift and installation of the 5,584 tons accommodation unit onto the jackets at Tyra East concluded this spring's offshore installation campaign, and seven out of eight platforms are now in their final position. "We are proud to announce this important installation milestone for Tyra II. The planning and execution of these precision lifts are impressive, and the offshore campaign has been completed without a single recordable incident. With seven out of eight platforms in place we have progressed the project closer to a near -doubling of production from the DUC with Tyra onstream from Q2 2023," saidMarianne Eide , EVP Upstream in Noreco. "During times when energy security is critical, the importance of Tyra II cannot be overstated. With Tyra on stream, the need for imported natural gas toDenmark will be significantly reduced. The reinvigorated facilities also provide modern infrastructure that will unlock the further development of the DUC's material discovered resource portfolio at a substantially lower emissions intensity. The redevelopment of Tyra is a first step in unlocking a valuable and strategically important future for the DUC," she concluded. *** Contact:Cathrine Torgersen , EVP Investor Relations & ESG Phone: +47 915 28 501 Email: ct@noreco.com AboutNorwegian Energy Company ASA : Noreco is a publicly owned company with focus on the oil, gas and offshoreindustry. The Company's shares are listed on theOslo Stock Exchange with ticker: "NOR". For further information, please visit: www.noreco.com.
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