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Mailing address

Espehaugen 32 B
5258 Blomsterdalen
Norway

Visiting address

Espehaugen 32 B
5258 Blomsterdalen
Norway

We see ourselves as an important part of the energy transition. Collaboration and curiousity is our competetive egde.

Our focus is on contributing to the energy transition through finding more oil and gas in prolific areas of the Norwegian continental shelf in order to maximise utilisation of existing infrastructure in a sustainable way and create next generation value. We believe collaboration is key to find more sustainable solutions in a global perspective.

Agile exploration strategy

We believe in creating value through innovative and cost-efficient exploration by challenging underexplored play models and discovering more resources in near-field core areas on the Norwegian continental shelf. With focus on early monetization, we combine traditional exploration methods with new technologies. We take advantage of being a young, lean and data driven exploration team, free from established “truths”, motivated by strong and innovation focused management.

Our creative business approach is based on building strong strategic alliances with our license partners and technology companies. We aim to change the traditional license partnership model from an organization consisting of different partners to one collaborative team — sharing openly and transparently instead of selectively. All with the shared objective of creating more value for the next generation.

Our strategy is two-pronged

Exploration: early monetization through near-field exploration in core areas, unlocking potential high value uplift with lowest possible capex requirements

 

 

Production: gain production assets (and cash flow) and contribute to increased recovery by reducing costs and applying new technology

The common denominator for both the exploration and production approach is active portfolio management designed to create value for the company’s shareholders.

About Petrolia Noco

  • In total 11 licenses, partner in 9 exploration licenses with Equinor, DNO, Lundin, Neptune, Concedo, ConocoPhillips, WintershallDEA, Idemitsu, Spirit and Petoro
  • Operator in one license with INEOS as partner
  • Actively using newest technologies, such as machine learning and artificial intelligence, to unlock additional reserves
  • Advancing the full potential of prolific areas on the Norwegian continental shelf
  • Young, flexible and agile subsurface team, working together in seamless and swift process
  • We never stop searching for new insights
  • Collaboration with our partners and stakeholders is at our core

Board of directors

Dr. Robert Arnott

Executive Chairman

Experienced geologist and board director with specialist competence within mature oil and gas provinces – an area he is recognised for his research into. Has held board-level positions at numerous E&P companies including Hurricane Energy plc, Rocksource ASA, Core Energy AS, Spring Energy AS and DNO ASA. Started his career with Royal Dutch Shell before becoming an oil and gas equity analyst at Goldman Sachs and Morgan Stanley.

Sjur Storås

Board Director

Executive who has held numerous board-level positions at various oil and gas organisations and been managing director of several companies within oil and gas such as CCB, the largest oil service base in Norway, and HOG, the main oil and gas interest organization in oil and gas in Hordaland county, Norway. Is today a partner at engineering and consulting company Head Energy Consulting AS and director of the board of Petrolia SE.

Brede Bjøvad Larsen

Board Director

Professional investor with broad industry and international experience. Has been a board director at Petrolia NOCO AS since 2016. Also holds board-level positions at oil services company Independent Oil Tools AS, plus several private board roles. He holds a masters degree in global management from RBS London, UK.

Investment Highlights

Creative Board and Team

  • Young and dynamic exploration team working with experienced management
  • Challenging conventional thinking

Early Monetization

  • Focused on the exploration part of the EP cycle
  • Looking to maximize value at minimum cost
  • Smart explorer and active portfolio manager

Sustainable discoveries

  •  As a proven discoverer on the Norwegian shelf, we explore near robust infrastructure
  • We see ourselves as part of the energy transition, and focos on making sustainable decisions

Fast Mover

  • A small team able to make quick decisions
  • Successful track record of deal completion and in license awards

Management team

Linn Katrine Høie

Managing Director

Linn is our Managing Director. She is an oil industry executive with a strong background within ESG and sustainability, combined with a unique insight into utilisation of artificial intelligence, digitalisation and machine learning in the offshore oil and gas industry. Managed a prestigious digitalisation and project improvement project for Aker BP prior to joining Petrolia NOCO AS in 2019. She has a broad technical, managerial and cross-discipline understanding of the oil industry and holds a MSc in Risk Management and Societal Safety from the University of Stavanger.

Jan Kaspar Gjessing

CFO

Jan Kaspar Gjessing is our CFO. He holds a master’s degree in finance from the Norwegian School of Economics and Business Administration (NHH) and joins Petrolia Noco from a position as Finance Manager at Corvus Energy. Prior to this, Gjessing held various financial controller and analyst roles with OMV Norge, Statoil (now Equinor) and Seadrill. He has also spent two years as an adviser within accounting.

Asbjørn Holme

Subsurface Manager

Asbjørn is our subsurface manager with strong subsurface understanding combined with commercial insights. He has experience from ConocoPhillips holding various technical roles ranging from production engineering to complex reservoir characterization and reservoir modelling projects in the Greater Ekofisk Area. Prior to joining Petrolia Noco, was an integral part of the Tommeliten Alpha field development project. Asbjørn holds a Msc in Petroleum Engineering from Norwegian University of Science and Technology and a Msc in Industrial Economics from University of Stavanger.

Anders B. Bergmann

Commercial Director

Anders is our commercial manager with strong analytical background and holds key experience within business development and upstream commercial negotiations, valuation of energy projects and rig strategy and intake. Prior to joining Petrolia Noco, Anders worked at Equinor and was an integral part of the Hywind Tampen development and leading negotiations on behalf of Equinor for several commercial processes (Breidablikk tie-in, Wisting tie-in, Right-to-produce, cooperation agreements, rig assignments).  Anders holds a Master of Science (MSc) in Energy, Trade & Finance from Cass Business School and Master of Business and Economics from BI Sandvika.

Kristin Myhre

Safety & Sustainability Manager

Kristin is our Safety & Sustainability manager. She joined Petrolia Noco from a position as department manager and risk management consultant in Proactima AS. Prior to this, she has also been with Lloyd’s Register, Equinor and Aker Solutions. where she has been performing analyses within safety, risk management, working environment and emergency preparedness. Kristin also has 12 years’ experience as a Safety/HSE discipline manager & engineer in oil and gas projects on the Norwegian Continental Shelf. She holds a master’s degree in Industrial Environmental Technology from 1996, and a bachelor’s degree in Analytical Chemistry from 1994.

Meet some of our team

Lillian Elvik-Bull

Sr. Explorationist

Lillian is an experienced explorationist working on our Tampen-assets to explore for more opportunities in the area. Lillian previosly worked in Neptune, and Edison, and moved to Bergen to join our team in 2019. During her years in the indutry she has worked with both operated and non-operated assets, and is one of our prospect hunters. She holds a master of science in Petroleum Geology from the University in Bergen.

Helge Ivar Sognnes

Sr. Explorationist

Helge is an experienced reservoir geophysicist with technical background from exploration and field development in the North Sea, and several years of international exposure in North Africa and the Far East. Before joining Petrolia NOCO in Bergen, he worked for PTTEP in Bangkok, where he was an integral part of the corporate geophysics team supporting both exploration and field development projects. He has now found his way home to Bergen and is eagerly participating within our dynamic exploration team to find hidden gems on the NCS.

Maria Marvik

Explorationist

Maria did her MSc in geology at the University of Bergen and has since 2017 been a part of the team in Petrolia NOCO. As an Explorationist she is collaborating with the rest of the team to unlock great values on the NCS. During her years in Petrolia she has worked on both fractured basement rocks and more conventional prospects. Maria is passionate about the outdoors, which is the main reason she became a geologist in the first place.