Tommy Sundt takes over as CEO from Svein Arild Killingland

Stavanger, 24 November 2014: The Board of Norwegian Energy Company ASA (“Noreco” or the “Company”) has appointed Tommy Sundt as CEO following the departure of Svein Arild Killingland.

Sundt was appointed CFO of the Company on 2 September 2014. Before that, he spent 10 years as CFO of Rocksource ASA, an oil and gas company also listed on the Oslo Stock Exchange. Sundt has previously worked in companies involved with business development, entrepreneurial activities and investments. He worked as an auditor early in his career, and has an MSc in business economics from the Norwegian School of Economics (NHH).

The Board has high expectations of working together with Sundt on finding solutions to the challenging position in which the Company finds itself and to realise the opportunities inherent in its business. Sundt has a strong financial and commercial mindset, and broad experience with and knowledge of such aspects as corporate finance, restructuring and business development. The Board regards his experience as an important asset in light of the challenges the Company is facing.

“I look forward to continuing to work with my highly competent colleagues, and to working hard to resolve the Company’s challenges,” says Sundt.

He will take up the position immediately.

Contact:
Silje Christine Augustson, Deputy Chair of the Board, Norwegian Energy Company ASA. Tel.: +47 992 83 900
Tommy Sundt, CEO. Tel.: +47 992 83 900
E-mail: investorrelations@noreco.com

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

***

About Norwegian Energy Company ASA

Noreco is an independent Norwegian oil company. The company's focus is to explore, develop and produce oil and gas in the North Sea region. Since incorporation in 2005, the company has grown through licensing rounds, exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs 53 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com.

About Us

Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: www.noreco.com.

Subscribe