Successful Sail Away of Tyra Utility- and Living Quarters

OSLO, Norway, March 16, 2022 /PRNewswire/ -- Norwegian Energy Company ASA ("Noreco" or the "Company") is pleased to announce the successful sail away of the new Tyra II utility- and living quarters (the "accommodation unit" or the "TEH") from Ravenna, Italy.

The accommodation unit was fabricated at the Piomboni yard by EPC contractor Rosetti Marino and TotalEnergies, and Heerema Marine Contractors' Barge H-408 will safely sail the 5,400 tons unit to the Tyra field in the Danish North Sea. The utility- and living quarters unit is 32.5 meters tall and has seven levels, including a helideck, and an area of 3,500 m2. In addition to housing offshore crew, the unit also has a state-of-the-art control room, a water system turning sea water into drinking water and all fire water and emergency power for Tyra II will be run from the unit.
Upon arrival at the Tyra field, the accommodation unit will be installed by the world's largest crane vessel, Sleipnir. The sail away is an important Tyra Redevelopment milestone and it significantly progresses the project towards first gas from Tyra II next year. 

"We are very proud to announce the completion- and sail away of the accommodation unit for Tyra II. Rosetti and TotalEnergies have fabricated what will be a modern and high-tech home away from home for the offshore crew and have also shown a strong performance by delivering high degree of completion with minimum carry-over and with zero accidents," said Marianne Eide, EVP Upstream in Noreco.

"The completion and sail-away of TEH is a key milestone as the DUC gets closer to a near-doubling of production with Tyra onstream from Q2 2023.  The resulting cashflow generation, which will enable a material and robust profile of shareholder returns, will be a game changer for Noreco and our priority remains returning capital to shareholders.  At the same time, we also recognise our broader role in providing affordable access to a reliable source of energy at a time when security of supply is critical.  With Tyra on stream, the need for imported natural gas to Denmark 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. Tyra is a first step in unlocking a valuable and strategically important future for the DUC," said Euan Shirlaw, Acting Managing Director & CFO in Noreco

For more information about Tyra II, please visit https://tyra2.dk/en/ 

Contact:
Cathrine Torgersen, EVP ESG & Investor Relations
Phone: +47 915 28 501
Email: ct@noreco.com

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