NorSea Group strengthens executive team with third appointment

(18th July 2015) NorSea Group (UK) Ltd has appointed Karen Russell as its first UK Finance Director. Karen becomes the third addition to the Group’s executive team as the company continues to grow its activity across Scotland in both the decommissioning and subsea support sectors.

She joins MD Walter Robertson and Operations Director Mike Munro in the new team leading the company’s expansion in the UK.

Karen has more than 13 years’ experience in the oil and gas industry. She began her accountancy training with Deloitte and Touche, then worked in financial roles with both Qserv and Weatherford before most recently spending almost eight years with Asco as Finance Manager.

In her new role with NorSea Group (UK) she will be responsible for overseeing all of the company’s financial functions as well as supporting the business as it increasingly grows its decommissioning capabilities as an integral part of its future growth strategy.

“This is a very exciting time to be joining NorSea Group,” said Karen. “It is a growing company in the UK with huge potential for future development as it diversifies from its traditional role as a logistics and base services company into the expanding decommissioning sector. I’m looking forward to taking on a hands-on role and getting very involved in the day to day running of the company in Aberdeen and at our bases at Peterhead, Montrose and Scrabster.”

NorSea Group (UK) is reaching the successful conclusion of the company’s first major small piece decommissioning contract, carried out at Smith Quay, Peterhead, on behalf of Endeavour Energy.

“We are delighted that Karen has joined us to strengthen our Executive management team,” said Walter. “She has a wealth of relevant experience and will use her expertise to move the company forward, grow its core business and develop new services.”

Karen Russel

Karen Russell is NorSea Group (UK) Ltd's New Finance Director.

For further information, please contact:

Walter Robertson, MD of NorSea Group (UK) Limited: T: 44 (0)1224 451001; walter.robertson@norseagroup.com

NorSea Group AS is a privately owned company founded in 1965. The company is a leading supplier of base services and integrated logistics solutions to the oil and gas industry in Norway. The company has interests in nine strategically located supply bases along the Norwegian coast and is the largest owner of base infrastructure in Norway. The company also has operations in Scotland, Australia, Denmark and the Netherlands and can offer the oil and gas industry a unique coverage of the North Sea basin. The group has an annual turnover of around NOK 3 billion and about 1,200 employees. NorSea Group AS is headquartered in Tananger outside Stavanger. The company's main shareholders are Wilh. Wilhelmsen Holding ASA, Eidesvik Eiendomsinvest and Simon Møkster Eiendom AS. For more information, see www.norseagroup.com.

NorSea Group (UK) Ltd was established as the UK wing of NorSea Group AS in 2013. In 2014, NorSea Group acquired Danbor Ltd and its UK assets are now incorporated into NorSea Group (UK). NorSea Group (UK) has a long-term agreement with Scrabster Harbour, a 10-year operatorship agreement at Smith Quay and Embankment, Peterhead, and a 15-year lease at South Quay, Montrose. The company HQ is at NorSea Group House, Aberdeen.

Visiting address: Risavika Havnering 14, 4056 Tananger Phone: +47 40 00 43 21 Email: norseagroup@norseagroup.com

© NorSea Group AS 2017