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Roman Opimakh Meets with Hans Jochum Horn and Viktor Gladun

On 16 November 2017, Roman Opimakh, Executive Director of the Association of Gas Producers of Ukraine, had a meeting with Hans Jochum Horn, the new Chairman of the JKX Oil & Gas Board, and Viktor Gladun, General Director of JV Poltava Petroleum Company.

Here are three interesting facts about the production sector in Norway from Hans Horn:

• Norway commenced development of oil and gas reservoirs in the 70s, and starting from 1991, the revenues from the production sector accumulated in the national budget exceed trillions of Norwegian krones.
• Norway is a developed country and one of the biggest energy exporters in the world. The private companies’ production share exceeds 50% (according to IHS Markit), with the state participating in all new projects on equal terms with its partner and taking all risks and commitments with regard to the investment.
• The Norwegian fiscal system, unlike that of Ukraine and other developing countries, envisages additional taxation of producers’ profit. Despite the quite high rate of the tax, 50%, its share in a company’s total income averages 18% (according to Deloitte, 2015).

Hans Jochum Horn, Chairman of the Board since 24 October 2017, holds an MA in Accounting and Auditing from the Norwegian School of Economics, as well as an MBA from the University of Mannheim, Germany. Mr. Horn is Chairman of the Norwegian Association of MBA Graduates and the founding member of the German Chamber of Commerce in Russia.

Hans Jochum’s previous experience includes roles as CEO and Chairman of the Board of Rendeavour, Africa’s largest urban developer, CEO and Chairman of the Board of Renaissance Group, and Director and Head of the Audit Committee of Uralkali and Eurochem. Hans Jochum Horn was the Country Managing Partner for Russia/CIS at Arthur Andersen, and subsequently Ernst & Young.

Mr. Horn has been a frequent advisor to governments and regional authorities in the CIS and Africa.