Annual Petroleum Economics Conference 2024

Lars Erik Aamot has more than 25 years of experience from the oil and gas industry, mainly from different roles in the Norwegian Ministry of Petroleum and Energy. Since 2009 he has been the Director General for Oil and Gas in the Ministry. Mr. Aamot obtained his Cand Oecon degree from University of Oslo, Norway in 1996. After graduation he started in the Ministry of Petroleum and Energy working with issues related to Norwegian petroleum and environmental policies.

In 2000 he worked with Statkraft as Senior Economist. In 2001 he joined Norsk Hydro AS as a Senior Investment Analyst working with business development and follow-up of its activities in US, Libya and Russia. Mr Aamot returned to the Ministry as the Deputy Director with responsibility of Economic Analysis in 2002. Between 2004 and 2007 he was the Counselor for Energy at the Norwegian embassy in Washington DC, before returning to the Ministry of Petroleum and Energy.

Torgeir Stordal is currently General Director of The Norwegian Offshore Directorate (NOD), with executive responsibilities. The main aim of the NOD is to contribute to maximising the value of the petroleum activities on the NCS to society, and they have additional responsibilities for CO2 storage and marine minerals.

Torgeir is a leader with 25+ years experience from the petroleum industry and 5 years experience from resource management within government administration. Predominant technical and leadership experience within subsurface assessment and drilling operations for exploration and project development. Broadening assignments in Economics, Strategy and Planning, Appraisal and Development plus Assurance. He is passionate about staff development, continuous improvement and deployment of new technology.

Nadia Martin Wiggen is Director at Svelland Capital. She has 15+ years of experience in commodities, including analysis (oil liquids, gas, power, coal, renewables, emissions, agriculture, metals and freight) and origination (power, renewables and oil liquids) at Pareto Securities, Rystad Energy, Morgan Stanley and Phibro as well as trading (crude oil) at Phibro. Prior to Svelland Capital, she was Partner in energy and chief oil analyst at Pareto Securities. At Rystad Energy, she was SVP and Head of the Markets Team (oil, gas, renewables). She was also product manager of Rystad Energy’s Oil Market Analytics service. Nadia holds an MSc degree from the Stockholm School of Economics and a BSc from Georgetown University’s School of Foreign Service. She is an active public speaker and mentor to young professionals.

Torbjørn Kjus has 23 years of experience in analysing the global energy markets. He currently works as Chief Economist in Aker BP, but has also worked for Norsk Hydro, BP, DNB Markets and Aker ASA. For the Oil & Gas sector Torbjørn was by institutional investors ranked as the number one financial analyst during his last four years in DNB, and as number one independent of sector when he left DNB in 2018. He regularly briefed the US Treasury in Washington D.C. on the global oil market and provided consultations about the market to the Norwegian Ministry of Petroleum, to the Norwegian Pension Fund (NBIM) and to the Norwegian Central Bank. Torbjørn is particularly known for having predicted the oil price crash as a consequence of the US shale oil revolution, first published in the report “The fat lady has started to sing”.

Petter Osmundsen is Professor of Petroleum Economics at University of Stavanger, Section for industrial economics. He has a Ph.D. from the Norwegian School of Economics (NHH). In 1992/93 he was a Research Fellow at the Massachusetts Institute of Technology. He has previously held positions as Associate Professor at NHH at the Department of Economics and Adjunct Professor at the Department of Finance and Management science. His research topics are tax design, valuation, contract theory, and incentive design - applied to the petroleum and the renewable sector. https://www.researchgate.net/profile/Petter-Osmundsen

Paula Doyle has been working as chief digital officer at Aker BP since 2022. Doyle previously worked at Cognite as SVP Sales and Marketing and was a member of the Executive management team. Previously she has held a variety of roles within the oil and gas industry for companies such as ABB and Siemens, in Norway and the Middle East. During her time in the Middle East, Doyle established and ran a non-profit industrial technology organisation. Doyle currently sits on the board on the Irish Norwegian chamber of commerce and has previously held board positions at Aker BP and Energy Valley. Doyle holds a PhD in Computer Engineering from the University of Limerick.

Karl Magnus Maribu has been advising oil and gas and renewable energy companies in risk management and hedging strategies since 2010. Prior to taking the role in DNB Markets, Karl Magnus worked as a senior analyst on carbon and energy markets in Point Carbon since 2006. He holds a Master in Physics and a PhD in Electrical Power Engineering from NTNU in addition to a post doc from École des Mines de Paris.

Øystein have a background as flight avionics technician. In addition he holds a bachelors degree in Mechatronics from the University in Agder, and a Masters in Management from NTNU. He has for the last 16 years served different roles in IKM Gruppen, an oil service provider with around 3500 employees and a budgeted turnaround of 8 billion NOK for 2024. The last two years he’s been holding the role as Deputy CEO of the group. Øystein have extensive experience within business development and business turn around cases. He’s also lecturing in Change Management at the University in Stavangers EMBA program.

Anders has more than 30 years experience from oil & gas as petroleum engineer with Shell and management consultant with McKinsey and Rystad Energy and has a degree in Petroleum Engineering from Imperial C and a MBA from INSEAD. His current work is independent strategy and business development consultant for oil companies in Norway, including CCS and expert witness work. Anders presents regularly at conferences on Norway oil & gas.

Caroline Svae is currently assigned as the Commercial/BD Manager for Trudvang CCS, a CO2 storage project on NCS targeting to store around 10Mt per year with FID targeted 2026/COD 2029. The license is owned by Sval Energi (operator), Storegga and Vår Energi. The main work is centered around identification and maturation of dialogues with customers and strategic partners across value chain to support the build-out of a European commercial viable CCS industry.

Her previous experience includes more than 15 years’ within the venture capital arms of Equinor and Saudi Aramco focusing on investing and building successful tech companies within the energy space in Europe. M.Sc in Physics from Institut national des Sciences appliquées de Toulouse.

Sten Arve Eide has more than 20 years of experience from the oil and gas industry, mainly from different roles in Gassco. Since 2016 he has been Vice President of the Commercial and Legal department in Gassco and is responsible for all commercial and legal processes in Gassco as well as economics analyses. Mr. Eide holds a master’s degree in economics from the University of Bergen. He has working experience from the Ministry of Finance (1997-2001) and A/S Norske Shell (2001-2005) before he started in Gassco in 2005.

Reidar B. Bratvold is a Professor of Petroleum Investment and Decision Analysis. He works at the University of Stavanger and at the Norwegian Institute of Technology where he is teaching and supervising graduate students doing research in decision analysis, project valuation, portfolio analysis, real-option valuation and behavioural challenges in decision-making. Prior to academia, he spent 15 years in the industry in various technical and management roles including as Vice President in Landmark Graphics Corporation in Houston, Managing Director of Smedvig Technology Software Solutions (now Roxar), Senior Scientist with IBM, and Reservoir Engineer with Statoil. He spent his early working years as a roughneck and roustabout in the North Sea.

Terje Sørnes is Cand.polit from the University of Bergen and he is Sr. Economist in Norwegian Offshore Directorate. Has previously worked in Equinor and at the Chr. Michelsens Institute.

• Equity analyst covering E&P and oil market
• Top ranked E&P analyst in Norway
• Master in economics from Norwegian School of Management (BI)
• Chartered European Financial analyst, AFA, (NHH)
• MBA in Corporate Finance, Norwegian School of Economics (NHH)

Daniel Greiner is educated as Chemical Engineer at University of Bergen, University of Alberta and NTNU. He has 13 years of experience within the oil & gas industry across projects, operations, finance and strategy. Currently Daniel is focused on developing the Barents Sea - the key growth area of offshore Norway.

Michael Hoel is professor emeritus in economics at the University of Oslo, and also partner at Vista Analyse. During the last couple of decades his research has been in the area of energy and climate, and his PhD from 1978 was on the economics of non-renewable resources. Until 2019 Hoel was «area director» for energy and climate at CESifo. Hoel has over the years lectured in resource and environmental economics for master- and PhD-students at the University of Oslo. He has also written several reports for the Norwegian Offshore Directorate.