Noreco is active on the Danish continental shelf
More to Denmark than meets the eye
The country’s approach to its oil and gas sector differs from the perception of outside observers, suggests producer Noreco
A c.$640mn historic tax credit may have been a key factor in the rebirth of Norwegian independent Noreco as an active oil and gas firm on the Danish continental shelf. But, CEO Euan Shirlaw tells Petroleum Economist, there is considerably more potential—in a country that takes a more nuanced attitude to its hydrocarbons than one might think—than simply monetising a tax position. After restructuring in 2015-16 and selling its upstream assets, most of them to an entity that became Norway’s Aker BP, Noreco—listed in Oslo as far back as a 2007 IPO by original private equity backer Hitec Vision—made an active return to the fray by agreeing to buy Shell’s Danish assets in 2018. The deal gave it a
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
