Norwegian Energy Company (Noreco) announced that Chief Financial Officer Orjan Gjerde will handle the company’s investor relations activities until further notice. Kjetil Bakken, the company’s previous investor relations manager, is leaving the company by the end of this month.
Bakken, who has been with Noreco since November 2009, was responsible for developing and leading the company’s Investor Relations function. He was also part of the company’s corporate management team from March 2011 to January 2013, and he was closely involved in the operational and financial restructuring of the company, said the company’s press release.
“Noreco would like to thank Bakken for his contribution, and wishes him all the best in his future endeavors,” said Gjerde.
The Noreco Group had revenue of 36 million in the first quarter of 2013, an increase of 19 percent compared to the first quarter of 2012, as stated in its 1Q 2013 report. Production in the first quarter was 4,042 barrels of oil equivalents per day, up from 2,893 boed for the same period last year.
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