June 25th 2015 – 4Subsea’s board has appointed Peter Jenkins, one of the founders of the company, as new CEO. He replaces Henning Christensen, also a founder of 4Subsea.
“Henning has lead the company from the start in 2008 to become a market leader on the Norwegian shelf within production risers and subsea well systems,” says chairman of the board, Mr. Joar Welde from Viking Venture. “Jenkins will now take on the responsibility to implement 4Subsea’s strategy, delivering solutions that reduces both OPEX and CAPEX linked to systems that are critical to operator’s oil and gas production. An important part of the strategy will also be to take 4Subsea’s services international,” says Welde, who is pleased that Christensen will stay with the company, focusing on business development within production risers.
Peter Jenkins has long track record within the oil and gas industry from both DSND Subsea and Kongsberg SeaFlex. The last three years he has been heading the Well Intervention and Drilling department of 4Subsea.
“4Subsea’s goal is to be a hub for managing the integrity of production risers and subsea wellhead systems,” says Peter Jenkins. “With today’s challenging market situation the oil and gas industry needs new perspectives to develop safe and cost efficient solutions. We see that combining our software- and monitoring solutions with our specialist engineering services represents such a new perspective. We reduce cost for operators, we avoid stop in production and we extend the service life of their most valuable assets. For us the low oil price is an opportunity! Operators need to cut cost and they need to maintain production from existing assets, something that matches our products and services perfectly,” Jenkins adds.
