Press Release

No: 46/1999
Date: 1 June 1999

External advisers selected for the evaluation of the state participation in oil and gas activities

The Ministry of Petroleum and Energy has selected the advisers who will contribute in the evaluation of the state participation in the petroleum activities, including the State's Direct Financial Interest (SDFI) and Statoil.

- The Ministry will, in close cooperation with our advisers, perform a thorough analysis to ensure the best possible basis for decisions regarding the future organization of the state participation in the petroleum sector. It is important to evaluate different models in order to lay the premises for long term political choices. We must find solutions to ensure good management of our national resources, says Anne Enger Lahnstein, Minister of Petroleum and Energy. The result of this work will be presented to Parliament in a White Paper on the Petroleum activities in spring 2000.

Two financial advisers have been selected; the investment bank Warburg Dillon Read, with headquarters in London, and Pareto Fonds ASA, with headquarters in Oslo.

Philip Lambert, who prior to this assignment has been with one of the major investment banks in London, has been selected as a general and strategic adviser for the Ministry.

The selected legal advisers will be the law firm Thommessen, Krefting, Greve, Lund AS in cooperation with the law firm Arntzen, Underland & Co ANS. The firm Van Bael & Bellis will be the Ministry's legal adviser on EU/EEA questions. In addition Professor Erling Selvig, LL.D. will be part of the project.

Contact: Sissel Edvardsen, +47 22 24 61 09