Norway-based oil and gas firm Noreco on Tuesday announced a rebranding and planned name change from Norwegian Energy Company ASA (Noreco) to BlueNord ASA.
The proposal for change of company name will be put forward for approval at the company's annual general meeting to be held on April 25, 2023, and will require a change of the company's articles of association to become effective.
"The notice for AGM is expected to be announced later today and the change of company name will take effect following, and subject to, approval by the AGM," Noreco, which owns a stake in the Danish offshore gas field Tyra, said.
Following AGM approval, it is expected that the Company's ticker on Oslo Børs will be changed from "NOR" to "BNOR".
Riulf Rustad, Executive Chairman said: "We are today facing the future as a forward-leaning and strong company, which will be named BlueNord. As BlueNord, we are in pole position to become a leading European independent gas producer and to continue to create value for the Company’s stakeholders."
Euan Shirlaw, Chief Executive Officer of Noreco said: "It is my pleasure to introduce you today to BlueNord, the proposed new name for Noreco. BlueNord represents both our values and what we see as our core purpose: to contribute to energy security in Europe by maximising our gas production and focusing our investments accordingly.
"Although the name is changing, Noreco and its long history laid the foundation for what we have become today: a material independent oil and gas producer. While we have already made significant progress since 2019, we look forward to delivering the next stage as BlueNord, with both infill drilling and Tyra first gas on the horizon,"