Rocksource recruits Scana Propulsion CEO

The Directors of Rocksource ASA have announced the appointment of Terje Arnesen as the Company’s new Chief Executive Officer. He will succeed Chris Spencer on 1 November 2014.

 Currently, Arnesen is engaged as CEO of Scana Propulsion AS on a temporary basis. Previously, he has held positions as CEO of Bergen Group ASA, CEO of Bennex Group AS (seismic and subsea system supplier) as well as several senior management positions in Rolls-Royce Marine, both national and internationally. Arnesen is educated as an engineer and holds a MBA from BI International business school in Oslo and ESCP-EAP in Paris. He is resident in Bergen.

Ole Wiborg, Chairman of the Board of Directors in Rocksource, commented: “We are pleased to announce the recruitment of Terje Arnesen as new CEO. Terje is a very experienced senior manager, with a demonstrated track record from the maritime and oil and gas sectors. This appointment also means that we have now concluded the senior management replacement processes that resulted from our strategic decision to consolidate all activities to Bergen.”

Terje Arnesen commented: “I am delighted to have the opportunity to build on the success of Rocksource in 2014 and further develop the Company into a material Bergen-based E&P company. The Pil and Bue discoveries earlier this year were certainly transformational events for Rocksource and I am truly looking forward to building on this foundation together with my new colleagues in Bergen.”

In January 2014, Rocksource announced that it had decided to consolidate all its activities at the Company’s headquarters in Bergen, with the aim to increase operational efficiency and enable even closer integration between the technical and financial arms of the Company. The transition remains on track and will be concluded (according to plan) when Arnesen takes over as CEO.