Tyra II: Successful Lift of Process Module

OSLO, Norway, Oct. 4, 2022 /PRNewswire/ -- Norwegian Energy Company ASA ("Noreco" or the "Company") is pleased to announce the successful offshore lift and of the Tyra II process module (the "TEG") at 08:27 local time this morning.

The 17,000 metric tons process module was safely lifted onto the waiting jackets and installed by Heerema Marine Contractors' Sleipnir the world's largest crane vessel. Following the successful lift, all eight platforms are now in their final position, and Tyra II is several steps closer to producing valuable natural gas for decades. Over the coming weeks, Sleipnir will lift and install two bridges and the flare for Tyra II, completing the project's final offshore lifting and installation campaign.

"We are proud to announce the final major offshore lift and installation which marks important progress of the Tyra Redevelopment project. After a month-long voyage from Batam to the Danish North Sea, the 17,000 tons module was safely lifted and installed by Sleipnir less than 24 hours after its arrival at the Tyra field, which is ahead of plan. The lift itself broke a world record, as the heaviest crane lift conducted at sea. I'm impressed by the team's planning, precision and timing, meaning that we can finally say that all modules are in place. The TEG has always been a critical part of the project, and now being installed the risk profile changes significantly. With remaining execution taking place solely at the Tyra field we are today several steps closer to a near -doubling of production from the DUC with Tyra onstream next winter," said Marianne Eide, Chief Operating Officer in Noreco.

Contact:Cathrine F. Torgersen, EVP Investor Relations & ESGEmail: ct@noreco.comPhone: +47 915 28 501

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