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Kluge’s Energy team is growing – Welcoming new partner Kjetil Stensvik

We are pleased to welcome Kjetil Stensvik as the latest addition to our Energy team. Kjetil joined Kluge as partner from 1 August 2018, coming from the position as Head of General Counsel Office in Equinor ASA.

Stensvik has been employed in Equinor since 2009 and has been advisor on several significant development projects, including Johan Sverdrup. During the period 2014-2016 Stensvik worked in South Korea and was responsible for legal follow-up work on Equinor’s significant projects there, including construction projects for the Mariner, Gina Krog and Aasta Hansteen fields. With his strong in-house experience and competencies, Kjetil will further strengthen the capacities of the oil and gas team of Kluge. He will work for both operators and contractors, using his unique skills with major projects to add value to our clients. Further details can be found here.

We are currently experiencing a significant growth within oil and gas, with a strong 2017 and a record busy 2018 so far. We are now leveraging the strategic recruitments Kluge has done since 2016, and are preparing for a new period of high activity on the NCS. We have over the last two years used the downturn in the industry to build one of the strongest energy teams in the Norwegian legal market, with 20 lawyers working first and foremost on oil and gas related projects and a number of senior personnel with specialist competence in various areas of energy law:

  • Associate partner Fredrik Nøss re-joined Kluge in December 2017 after 6 years as in-house counsel in Equinor ASA. He specializes in rig contracts, rig contract disputes and in upstream procurement contracts. In Equinor, he was legal advisor for several rig procurement projects and involved in several disputes associated with rig contracts. He works with oil and gas and with a particular focus on rig contracts and disputes associated with rig contracts. Further details can be found here

  • Associate partner Jone Stakkestad re-joined Kluge from Wintershall Norge AS in March 2017. In Wintershall he worked on the Maria and Skarfjell field developments, including tie-in negotiations and major rig and FPSO agreements. Since he re-joined Kluge in March 2017 he has worked full time with oil and gas clients and has particularly provided assistance to Faroe Petroleum and DEA Norge AS. Jone is currently involved in the development projects Brasse (Faroe) and Fenja (Faroe) and Dvalin (DEA), which include advising related to i.a. JV/license, tie-in, license coordination/unitization and EPCI. In addition, he has been involved in significant license transactions. Further details can be found here.

  • Associate partner Samuel Skrunes rejoined Kluge from Equinor ASA in August 2016. In Equinor he worked on various field development projects internationally and on the NCS, hereunder contracts for procurements of goods and services, FC/EPMA/EPC and EPCI, heavy lift vessels, removal and disposal, various supply- and service vessels, seismic acquisition, helicopter-services and other service-contracts. He now specializes in contract law and litigation related to offshore and onshore projects. Further details can be found here 

  • Amund Noss joined our team as partner in April 2016. He has deep insight in petroleum tax after many years with the Ministry of Finance. Noss is working on significant litigation mandates within petroleum tax for several E&P companies. Amund’s skills and competencies fits very well with the rest of the team’s strong E&P industry knowledge and our strong client base. In particular, we are pleased to see that our M&A offering has been significantly strengthened with this add on capacity within petroleum tax. Further details can be found here

Kluge has taken part of most of the major E&P transactions on the NCS the last year, either by way of M&A advice to the seller or the buyer, HR advice to in terms of integration processes, or tax advice in relation to sale and purchase of E&P assets. Below we have listed a few highlights from 2017 and 2018:

  • Neptune Energy Group announced on 28 June 2018 an SPA to acquire 100 % of the shares of VNG Norge AS from VNG AG, the German natural gas wholesaler and energy service provider. A team from Kluge has assisted Neptune Energy Norge AS with matters related to Norwegian law in the transaction.

  • Kluge assisted Repsol Norge AS with its buying participating interests in the Visund field on the Norwegian Continental Shelf from Total E&P Norge AS.

  • Kluge assisted Faroe Petroleum Norge AS with the sale of 17,5 % participating interests in the Fenja development project to Suncor Energy Norge AS.

  • Kluge assisted Edison Norge AS (as seller) in a sale of its participating interests in the Polarled gas pipeline joint venture and in the Nyhamna gas processing plant joint venture on the NCS to CapeOmega AS (as buyer).

  • Kluge is assisting Faroe Petroleum Norge AS with the Brasse field development project.

  • Kluge assisted an undisclosed bidder with a full due diligence of the Valhall field and Hod field respectively, when Aker BP ASA marketed these participating interests.

  • Kluge advised an undisclosed bidder with a full due diligence of a license portfolio consisting of interests in the Draugen field and the Gjøa field marketed by A/S Norske Shell.