Norwegian offshore oil and gas operator Vår Energi is on the hunt for a new CEO after the appointment of current boss Kristin Kragseth as the new CEO of state-owned Petoro.
Kragseth will be leaving Vår Energi after almost 30 years at the company once her replacement in in place, no later than June 1, 2021. Kragseth has led Vår Energi since 2018.
“I am proud of what we have achieved over the past two years. Vår Energi is now a strong organisation, set to continue to deliver on our ambitious growth targets with highly valuable assets across the entire continental shelf. We have created a company that makes a difference, not just by being one of the largest producers of oil and gas in Norway, but also for all the opportunities we are creating for thousands of people offshore and onshore, for many suppliers across the country and for the communities in which we operate. We have also taken several steps on the path to reducing our carbon impact and will continue to do so in the future,” Kragseth said.
“Petoro manages vast assets on behalf of the Norwegian society and is one of the largest value creators in the country. Taking on the position as CEO for Petoro represents a unique opportunity to impact the future of such an important company to the benefit of all of us,” she added.
Vår Energi, which is 69.6% owned by Italy’s Eni and 30.4% by private equity investor HitecVision, has started work to find a new CEO.