Bratsberg joins Det norske

This article originates from the news archive of Det norske.

20. February 2008

Det norske is pleased to announce that Øyvind Bratsberg has been employed as Chief Operating Officer (COO) in the company. He will take up his new position 1 June as employee no. 100 in Det norske; one third of the staff has been recruited from StatoilHydro.

Bratsberg comes from the position as Sr. Vice President E&P Norway, Norwegian Sea area in StatoilHydro. Prior to this he was Sr. Vice President E&P for the Halten/Nordland and Troll/Sleipner areas. He has also held several other managerial positions in Statoil, where he was employed for 23 years.

In Det norske, Bratsberg will hold a key position with the operative responsibility for exploration, drilling, well operations, production, and operation.

– I find Det norske to be a very exciting company in rapid growth. I look forward to participate in and assume responsibility for this. In addition, it is an advantage for me that the company headquarters are located in Trondheim”, states Bratsberg.

CEO Erik Haugane says that Det norske is very pleased to have recruited Øyvind Bratsberg.

– We are a company experiencing rapid growth, and we will definitely benefit from his know-how, experience, and capacity.

Øyvind Bratsberg is 49 years and was born in Mo i Rana. He resides in Stjørdal, is single, and has one child.

About Det norske:
Det norske is the second-largest operating company on the Norwegian Continental Shelf with 24 operatorships and interests in a total of 46 licenses. Last year (2007), the
company drilled five exploration wells. Det norske’s scope of activities is limited to the Norwegian Continental Shelf (NCS).

Det norske currently employs a staff of 90, and the strong growth rate is expected to continue in 2008. The company headquarters are located in Trondheim, with offices also in Oslo, Harstad, and Stavanger.

Det norske generated in 2007 operating revenues in the amount of MNOK 131 and an operating loss of MNOK 252.1. The loss after taxes was MNOK 62.9.

Det norske oljeselskap (“DETNOR”) emerged as a result of the combination between Pertra and DNO`s Norwegian operations. At the end of January 2008, the stock value of the company amounted to NOK billion 3.5.