Det Norske Oljeselskap Appoints Statoil’s Hersvik as New CEO

Det Norske Oljeselskap ASA (DETNOR), which owns a stake in Norway’s biggest oil discovery in decades, has appointed Karl Johnny Hersvik chief executive officer.

Hersvik, 41, who has been Senior Vice president of Statoil ASA (STL)’s research and development division since January 2011, will take up his new position May 1, the company said in a statement. He will succeed Erik Haugane, who left Aug. 1.

“We are confident that he is the right person to take the company further in an exciting phase,” Chairman Sverre Skogen said in the statement. “Det Norske will be strengthened by a young and dynamic chief executive with extensive professional experience.”

Det Norske, which is almost 50 percent owned by billionaire Kjell Inge Roekke’s Aker ASA (AKER), has interest in two of the three licenses holding the Johan Sverdrup field in the North Sea, possibly Norway’s biggest discovery since 1974 with as much as 3.6 billion barrels of oil. Det Norske plans to boost output to more than 60,000 barrels of oil equivalent a day in 2019 from less than 6,000 barrels in the second quarter thanks to its Ivar Aasen oil field and Sverdrup, due to start at the end of 2016 and 2018, respectively.

“It is both exciting and challenging to contribute to the further development of Det Norske as a significant player on the Norwegian shelf,” Hersvik said.

Skogen will continue as working chairman and Oeyvind Bratsberg as general manager until Hersvik takes over as CEO, the company said.

To contact the reporter on this story: Mikael Holter in Oslo at mholter2@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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