Northern Ocean Names Arne Jacobsen CEO

Offshore drilling contractor Northern Ocean announced it has appointed Arne Jacobsen as its new chief executive officer.

Jacobsen was previously the 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.

Beyond his background as an investment professional, 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.

Gary Casswell, chairman of Northern Ocean's board of directors, said, "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."

Jacobsen said, "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."