Increased capital commitment to Core Energy

30. March 2012

We are pleased to announce that Core Energy has raised an additional USD 150 million of equity. The new financing will enable Core Energy to accelerate its growth strategy on the Norwegian Continental Shelf.

HitecVision invested in Core Energy in November 2010, and with the additional capital raised, Core Energy now has a total equity of approx. USD 300 million. The new investors are well renowned international institutional investors associated with HitecVision. The equity was raised in close co-operation with HitecVision.

“We are very pleased with our investment in Core Energy and the additional equity commitment is in line with the funding plans for the company from the outset. We are also pleased to see that our Limited Partners have shown keen interest in Core Energy”, said Svein Arild Killingland, Senior Partner at HitecVision.

“The additional equity funding puts us in a strong position to accelerate and pursue our growth strategy on the Norwegian Continental Shelf. It will enable the company to continue targeting the significant value potential in and around producing fields on the NCS”, states CEO Jan H. Solstad.

Core Energy currently holds interest in two producing fields and one development project on the NCS, has 19 employees and is headquartered in Oslo and has an office in Stavanger.

Contact details

Visiting address:
Rosenkrantzgate 16, N-0160

Postal address:
P.O. Box 1489 Vika, N-0116 Oslo

Phone: +47 24 04 54 80

E-mail address: