Tungesvik Takes Helm of Statoil Canada

Statoil ASA on Friday announced that Stale Tungesvik has taken over as president of its Canadian operations. Tungesvik replaces Lars Christian Bacher who has been appointed executive vice president for Statoil's Development and Production International. As president of Statoil Canada, Tungesvik is responsible for development and production activities both within oil sands in Alberta and offshore Canada.

"Canada is an important component in Statoil's global energy portfolio of high quality and diversified assets. I look forward to building upon our long-term investments and relationships here to realize our growth plans both offshore and within oil sands," said Tungesvik, president of Statoil Canada.

Tungesvik has almost 30 years of energy sector experience. He comes from the position as senior vice president for renewable energy in Statoil. Under his leadership, Statoil participated in the development of one of the largest offshore wind farms in the world in the United Kingdom and strengthened the company's position in the renewables industry through innovative technology and optimization of commercial models.

In his new role, Tungesvik directs the company's oil sands operations in Alberta's Athabasca region, including the Leismer Demonstration Plant and new development projects, such as Corner, Thornbury and Hangingstone. Further, he will oversee the Calgary-based Heavy Oil Technology Centre, which researches and develops new technologies and processes to improve environmental sustainability.

Tungesvik also leads the development and production operations of Statoil Canada's East Coast and Arctic offshore assets. In addition, he guides the company''s corporate responsibility and community engagement initiatives.

Since joining Statoil in 1991, Tungesvik has served in a number of leadership positions in Statoil, including vice president of exploration and production Norway, reserve replacement, and business development, as well as senior vice president of Operations West, including the Oseberg, Statfjord, Snorre and Gullfaks fields.



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