The Board of Directors of Magseis ASA (OSE: MSEIS) has appointed Dr. Idar Horstad as the company’s new Chief Executive Officer (CEO). He will succeed co-founder and CEO Ivar Gimse within October 2016. Dr. Horstad currently serves as Senior Vice President of CGG Multi Client and New Ventures. Dr. Horstad has held a number of management positions in CGG, Fugro and Fugro Geoteam since 2000 and was prior to this a geologist in Saga Petroleum.
Dr. Horstad was born in Norway in 1964. He holds a PhD degree in Geology from the University of Oslo where he developed a procedure to integrate detailed geochemical information to understand fluid movements in the subsurface.
Dr. Horstad has the perfect background for taking on the position as CEO at this stage of the Company’s development. He has been working in the seismic industry for more than 15 years and was prior to this working with sub surface modelling in the E&P industry. Dr. Horstad has proven his ability to develop business, manage operations and deliver profitable business for CGG and Fugro. He will be a strong addition to the Magseis team.
Ivar Gimse who is one of the founders of Magseis has served as CEO since the start in 2009. He will take on the position as SVP Business Development and will report directly to Dr. Horstad.
“Ivar Gimse has done an excellent job as CEO since the company was started. Magseis has had an extraordinary development and the Board of Directors acknowledge that Ivar Gimse has been essential in achieving the position as a leading international service provider of OBS technology” says Chairman of the Board Ms. Mari Thjømøe.
At this stage Magseis has secured a satisfactory back-log well into 2017 and also built a strong track record through its delivery of services to leading multinational oil and gas companies. “This marks the start of a new phase for the company and the Board of Directors and Mr. Gimse, have concluded that the time is right for recruiting a new CEO that can manage Magseis through its next phase of development; further growth and industrialization of its services. The Board of Directors appreciate that Ivar Gimse will continue to be a valuable contributor in the management team, concentrating on business development and customers as this will be essential in order to further develop our market position,” said Ms. Thjømøe.
Dr. Horstad: “I am very pleased to join Magseis, and I look forward to working together with the Board of Directors, Ivar Gimse and his co-founders who will continue to be very important in the further development of the Company.”
For further information, please contact:
Mari Thjømøe, Chairman of the Board, mobile +47 907 77 824
Jan Gateman, co-founder and Board member, mobile +47 950 63 758
Til pressemeldingen
Idar Horstad fikk en kort karriere i Magseis.
1 kommentar
For us as petroleum geologists is it great to see that the company continues to recognizes the great value of a CEO with a broad Petroleum System- geoscientific background, and a wide background he has indeed – Idar.
For us who know Idar, his scientific publications on oils and petroleum systems, and his work in a series of companies, it is clear that his great personality, energy level, remarkable skillset and overall great geoscientific background will create value for the company.
This is what is needed – to boost exploration – by new and better methodology – better interpretations – and ultimately value creation – short term and long term – the world has no alternative to fossil fuel and we need to discover more to the benefit of mankind.