Aker ASA: Jan Arve Haugan appointed as Chief Executive Officer of Aker Energy
Jan Arve Haugan has been appointed as Chief Executive Officer of the newly established oil company Aker Energy, effective 1 March 2018. Mr. Haugan is currently the President & CEO of Kværner ASA ("Kvaerner").
"We are pleased that Jan Arve Haugan has accepted the management responsibility of Aker Energy. Jan Arve has extensive experience from international top management and the oil and gas industry. He has also been responsible for implementing one of Norway's largest industrial projects abroad," said President & CEO of Aker, Øyvind Eriksen.
Aker Energy AS is a 50-50 joint venture between Aker ASA and TRG AS. The company has entered into an agreement with a subsidiary of Hess Corporation to acquire its interests in Ghana, consisting of a 50 per cent participating interest in the Deepwater Tano Cape Three Points block. Aker Energy is currently progressing a commercially robust development solution with a fast-track first-phase targeting approximately 400 million barrels. The Plan for Development and Operation will be submitted in 2018 with anticipated first oil in 2021.
"This is an oil field the size of Johan Castberg in the Barents Sea. With Jan Arve as part of the team, we will be able to keep up the pace. Focus is on safety, quality in all stages of the development, cost-effective implementation and the lowest possible production cost per barrel of oil," said Eriksen.
Jan Arve Haugan has led Kvaerner since its demerger from Aker Solutions and stock listing in the summer of 2011, and has delivered strong results in a challenging market. He has extensive experience from a variety of top management positions.
Mr. Haugan joined Norwegian Hydro as Chief engineer in 1991. He has held several management positions in Hydro's oil and gas projects and operations, and more recently in the aluminium business. From 2007 to 2009 he was Director of Technology and Global Smelter Operations. In 2009, he became CEO of Qatar Aluminium Ltd ("Qatalum"), a 50-50 joint venture between Qatar Petroleum and Hydro Aluminium, and one of the largest primary aluminium plants ever built in one phase. Mr. Haugan was Hydro's project owner and technology provider for Qatalum in Hydro, before joining Qatalum as CEO. Jan Arve Haugan holds a M.Sc. in construction management from the University of Colorado at Boulder, USA.
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This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.