EnergyWatch

North Sea players worry about new oil outfit with chaotic past

Several North Sea oil players warn about about a small new player using a complicated financial maneuver to become Denmark's second-largest oil actor. There is no cause for concern, the company says. 

Brows are furrowing on the faces of executives from several North Sea oil companies, fearing that small oil company Noreco will leave other regional players in the dust regarding the new, major reestablishment of the important gas field, Tyra.

In October, the Norwegian company entered an agreement with Shell to take over the oil major's assets in the Danish North Sea in a complicated financial maneuver which, by incurring debt and capital from four investment firms, is poised to become Denmark's second-largest oil outfit.

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