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1 February 2021

Petrolia Noco AS: Appointment of CFO

29 January 2021 – Petrolia Noco has appointed Jan Kaspar Gjessing (34) as Chief Financial Officer. He will take charge of the company’s finance function from February 1st 2021.

Gjessing (34) 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.

“We have had an objective of strengthening our finance function with our first full-time CFO, reflecting the role’s increased complexity and responsibility as we grow the company and continue developing our assets. Jan Kaspar has demonstrated motivation and dedication, and solid competence in creating robust and efficient processes. That makes him an ideal candidate for our business culture and team! He wanted to return to this industry, and I take part in a very exciting time where collaboration is key in our contribution to a sustainable energy transition. We have a young and dedicated team, with an average age of 38 in our management team being “the youngest Discovery Team” on the NCS. It’s also a joy to say that he brings gender balance into our management team, as 4 out of 6 members are women” says Linn Katrine Høie, Managing Director of Petrolia Noco. Gjessing starts in his new role on February 1st, 2021.

Petrolia Noco was involved in one of the largest discoveries on the Norwegian continental shelf in 2020, through the Dugong well (PL 882) operated by Neptune Energy. More exploration drilling is planned in the Tampen area in 2021, including the Dugong Tail exploration well and Dugong Appraisal well – which is to be spudded in February. The company was also awarded 3 new licenses in APA 2020. The addition of these licenses to Petrolia NOCO’s portfolio means that it continues to deliver on its near field exploration strategy. The award strengthens the Company’s position in its core area of the Tampen Hub, where it holds 20% in the Dugong discovery (PL 882) and 30% share in the adjacent PL 992 and PL 994 licenses. Petrolia NOCO looks forward to collaborating our existing partners Neptune Energy Norge AS, DNO ASA, Lundin Norway AS and our new partners Wintershall DEA and Petoro.

For further information, please contact:

Linn Katrine Høie, Managing Director of Petrolia Noco, tel: +47 91 30 10 36