Energy Ventures, is pleased to announce the appointment of Kjell E. Jacobsen as from the 15th October 2008.

Kjell E. Jacobsen was previously working as CEO of Seadrill Management AS, a large international drilling company quoted on the Oslo Stock Exchange. Before joining Smedvig / Seadrill his career includes work for Statoil as well as Citibank. He will be included in the Partner Management group of Energy Ventures, where he in the outset will be working on new fund initiatives.

"I am impressed with what the Energy Ventures team has managed to achieve since its start-up in 2002", says Kjell E. Jacobsen. "And I am very pleased with and exited over having been offered the opportunity to join the team."

"Energy Ventures is equally pleased having a person of such high industry standing working for the firm", says Ole Melberg. "Kjell E. Jacobsen will complement the industry credentials of the funds managed by Energy Ventures and hopefully be able to add substantial values to the funds' investors in the future".