Management changes at Lundin Norway

Swedish oil company Lundin Petroleum has informed that the Managing Director of Lundin Norway AS Torstein Sanness will retire from his executive position in April  2015 and assume the role of Chairman of Lundin Norway.

Kristin Færøvik will assume the role of Managing Director of Lundin Norway in April 2015. Færøvik was previously the Managing Director of Rosenberg WorleyParsons AS, the Norwegian arm of  the large multinational energy and resource engineering firm, where she was responsible for over 600 employees.

In its presentation, Lundin Petroleum says that Færøvik has long and varied technical, operational and management experience in the Norwegian oil  and gas industry, including previously as Managing Director of Marathon Petroleum Company (Norway),  responsible for the development of the Alvheim Field, as well as holding several positions within BP in Norway  and internationally. She was a Board Member of Lundin Petroleum from 2011 until 2013.

 Ashley Heppenstall, President and CEO, Lundin Petroleum said: “Torstein has been the Managing  Director of Lundin Norway since the start in 2004 and has been the guiding force behind the growth and  success of Lundin Norway. He has been responsible for the creation of considerable shareholder value during  this period. He has established an organisation with the highest level of competence at all levels: exploration,  development and production. With discoveries such as Johan Sverdrup, Edvard Grieg and Alta, Lundin  Norway has achieved huge success and, through Torstein’s leadership, is now one of the most successful fully  integrated operators on the Norwegian Continental Shelf.

“We are really pleased that Torstein will remain  with us as Chairman of Lundin Norway. We know Kristin very well from her days as Managing Director of Marathon Norway and as a former  director of Lundin Petroleum. The strategy of Lundin Norway in respect of organic growth from a proactive  exploration focus coupled with strong development and operational capacity will not change. Lundin Norway  has an excellent team of people and a strong asset base. Under Kristin’s leadership we will continue to grow  our business in Norway for many years to come.”

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