Noreco returns with big plans for the North Sea

A few years ago, Norway's Noreco faced potential bankruptcy. Today, things have turned around after the company emerged victorious in a Danish insurance claims case. Noreco will now invest large sums on the British and Danish North Sea shelves, reports Dagens Næringsliv.

BY SØREN PICO

Published: 14.06.17 at 13:45

A provisional victory in a Danish insurance claims case triggered a rise in the share price at Norwegian oil company Noreco. The share has grown 1,300 percent since 2015, and 155 percent over the past year alone. The company will now take on new projects in Denmark and the UK, reports Norwegian media Dagens Næringsliv.

A few years ago, Noreco faced the gloomy prospect of potential bankruptcy, but now the situation has turned around due to a provisional victory in the court dispute against insurance companies regarding problems on the Danish Siri platform.

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