Kragseth, who previously served as chief executive officer of Var Energi, has nearly 30 years of experience in the oil and gas industry, including roles at ExxonMobil and Point Resources.
Petoro is the licensee of about 1/3 of the oil and gas reserves on the Norwegian continental shelf with interests in 195 licenses and 35 producing fields. Nearly 1 MMboe/d are produced from Petoro's portfolio. The company also maintains the largest ownership in pipelines and associated onshore facilities.
