BlueNord: Invitation Received to Explore an Extension of the DUC License

OSLO, Norway, Feb. 22, 2026 /PRNewswire/ -- Reference is made to today's announcement by the Danish Ministry of Climate, Energy and Utilities, in which BlueNord ASA ("BlueNord" or the "Company") and its partners in the Danish Underground Consortium (the "DUC") are invited to explore an extension of the DUC license beyond its current 2042 expiry.

BlueNord has maintained a constructive dialogue with the Danish government, expressing interest in extending the current license to 2050, in accordance with the 2020 North Sea Agreement, and the Company welcomes today's announcement. 

A license extension would be fully aligned with BlueNord's long-standing objectives: maximising value from the DUC, supporting the future energy needs of Denmark and Europe, and continuing to make a meaningful contribution to Danish society.

"We welcome today's announcement and look forward to continuing our dialogue with the Danish government on how BlueNord, together with our partners in the DUC, can continue to deliver vital oil and gas volumes to Denmark and the EU beyond the current DUC license expiry in 2042. Our objective remains to maximise the value from the DUC – not only for our shareholders, but for Danish society and the broader European energy market. An extension to 2050 would provide a tangible contribution to reducing Europe's dependence on imported energy and strengthening security of supply. Danish North Sea production carries real strategic importance: it comes with a lower CO₂ footprint than imported LNG, contributes meaningfully to the Danish economy through state revenues and employment, and plays a direct role in safeguarding EU energy security," said Euan Shirlaw, Chief Executive Officer in BlueNord ASA.

Press release from the Danish Ministry of Climate, Energy and Utilities can be read here: https://www.kefm.dk/aktuelt/nyheder/2026/feb/regeringen-vil-styrke-europas-forsyningssikkerhed

BlueNord will announce its fourth quarter 2025 results on 24 February 2026. 

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. 

Contact: 
Cathrine Torgersen, Chief Corporate Affairs Officer 
Phone: +47 915 28 501 
Email: cathrine.torgersen@bluenord.com

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