When was North Energy founded?
North Energy AS was founded on September 4th 2007.
Who were the initiative-takers?
Harald Karlstrøm from Origo Kapital first raised the idea of a new Northern Norwegian oil company during the Finnmark Conference in Alta in the autumn of 2004. KapNord Fond, in the person of Tore Andreassen worked together with Harald Karlstrøm for the purpose of presenting a concept for a Northern Norwegian oil company with the broadest possible anchoring in this part of the country. Johan P. Barlindhaug became involved in the process in early 2007, and Erik Karlstrøm arranged for the preparation of drafts through SB Finans.
Who owns North Energy?
From its founding, the company was a wholly owned Northern Norwegian company. The first share issue was significantly oversubscribed and showed that the enthusiasm and approval of the new Northern Norwegian oil company, North Energy, was quite large.
In February 2010, North Energy was listed on the Oslo Axess Stock Exchange.
How many employees does North Energy have?
North Energy now has around 50 employees. These are distributed among our different offices. The majority work in our head office in Alta, and the others are distributed among out satellite offices in Tromsø, Oslo, Bergen and Stavanger.
What is North Energy's vision?
The company's vision is to be a profitable and leading oil and gas company that actively contributes to the creation of industrial value in Northern Norway and in the nation in general.
How will North Energy attain the goal?
In order to achievethe goal, the company must find oil or gas. North Energy has a promising drilling programme. In its portfolio,there are prospects with a high probability of finds (PoS) that are located nearby existing infrastructure. More over,further optimisation of the portfolio is being emphasised through the buying and selling of licences.
What does the company's Northern Norwegian anchoring mean?
The listing on the stock exchange has not changed the company's values or visions, but the listing hasmade it possible to realise the vision for the company. North Energy, with its anchoring in Northern Norway, is conscious about utilising its competence in the northern areas to meet the challenges facing Northern Norway. The company thus has a special focus on:
- Environmental conditions in the north
- Enhancement of local add-on effects
- Knowledge and dialogue with respect to conflict-filled themes
What does North Energy do differently from other oil companies?
We believe that it is precisely out Northern Norwegian anchoring that makes us a different company. North Energy believes that it is a strength that we, through our anchoring, have knowledge about how matters are perceived among the population along the coast. A shared understanding of attitudes and viewpoints gives a good basis for a constructive dialogue on specific activities, plans and challenges.
As the same time, we have the same strict requirements in relation to competence, safety and economics that all the other oil companies operating on the Norwegian Continental Shelf have.
How does North Energy utilise local expertise in its activities?
North Energy supports projects that strengthen preparedness along the coast in order to reduce the consequences of accidents in connection with the oil and gas activity in the north. The Northern Norwegian local and polar night competencies that the coastal fisheries fleet possesses are valuable natural advantages. The understanding and use of this competence will be a central factor, regardless of the types of tasks. We call it the "Local Guide Model". North Energy works with systematising and registering information related to this model.
How does North Energy approach the environmental challenges?
North Energy participates in the environmental debate with factual information concerning the industry in order to show that Norway is ranked as leading in knowledge about and the use of environmental technology that is constantly developing in step with new requirements for emissions, purity and risk.
As a part of the preparations for future drilling, North Energy has carried out the calculations for oil spill contingency plans for possible acute spills during drilling. The calculations have been performed for different types of oil in order to get a good opinion on the possible range of outcomes of such an event, and the results have been utilised to identify areas that will require a special focus in a spill situation.
