Founders and Owners

New Subsea Technology AS was founded in 2016 by Thor Lovoll, Sigbjorn Madsen and Bjorn Schmidt to enable an environment where good ideas can be pursued and developed. Our expertise are integrated solutions for wells and subsea, with a customer mindset. New Subsea Technology AS will be the vehicle required to develop a catalogue of new and unique ideas on how to simplify and improve the subsea oil and gas business.

We believe that our customer focus point of view, as well as significant experience and competence in our field, brings an unique approach to integrated solutions for the subsea oil and gas environment. New Subsea Technology AS focus on step change improvements with a bottom line impact that can enable developments of previously stranded assets.

The future of the company will be built around patented solutions and the industry leading people and competencies in our field.

Daniel joined the company mid 2017 to fill the role as CFO/ Finance Manager.

Thor Lovoll
Thor is educated from NTNU with a MSc in Petroleum Technology, and has 21 years industry experience from Norsk Hydro and Shell International Deepwater, including position as Well Engineering and Operations Manager International Deepwater.

Thor holds a 30% share of the company.

Sigbjørn Madsen
Sigbjorn has qualifications from Maritime College as Chief Engineer and education from Drilling College. He has more than 25 years of specific experience as consultant within Subsea Engineering and Operations for a number of Operators, including Norsk Hydro and AS Norske Shell.

Sigbjørn holds a 30% share of the company.

Bjørn Schmidt
Bjørn is educated from Stavanger University with a MSc in Petroleum Technology, and has 15 years of Industry experience from AS Norske Shell, where he has held a number of positions within Well Engineering and Operations.

Bjørn holds a 30% share of the company.

Daniel Hektoen
Daniel is educated MSc in Economics and Business Administration from Handelshøyskolen BI, and has held several senior finance, plan and strategy positions over the last 13 years in AS Norske Shell.

Daniel holds a 10% share of the company.