The Board of Directors of Northern Ocean Ltd. (“NOL“) has appointed Arne Jacobsen as the new Chief Executive Officer of NOL effective as of 20 August 2024.

Arne Jacobsen was previously the Chief Executive Officer (CEO) of Orion, a joint venture between Hayfin Capital and Transocean, and has experience as a senior investment advisor for the oil and gas investment portfolio of Hayfin Capital.

“We are very pleased to welcome Arne Jacobsen as the new Chief Executive Officer of Northern Ocean Ltd. With his deep industry insight, broad experience from operational and commercial positions, coupled with financial expertise, he is ideally suited to further develop the company”, says Gary Casswell, Chairman of NOL’s board of directors.

“Northern Ocean Ltd. owns two of the most sophisticated offshore drilling units in the industry, which provides a strong foundation for the future development of the company. I look forward to exploring opportunities to further grow the company and to ensure safe and efficient operations of our assets with the aim of generating attractive returns for our shareholders,” says Arne Jacobsen.

Beyond his background as an investment professional, Arne Jacobsen holds extensive commercial and operational experience from the oil and gas industry. Before joining Hayfin Capital, Jacobsen held leading positions in Songa Offshore and Ocean Rig, where he was positioned both in Brazil, South Korea and Norway.