Nordsøfonden is Denmark’s third-largest oil and gas producer and was appointed in 2022 to manage the Danish state’s participation in CO2 storage licences. Today, Nordsøfonden participates in seven licences for the exploration and storage of CO2. The expanded portfolio, and not least an increased complexity of tasks, means that Nordsøfonden is strengthening its organisation.
Managing Director Flemming Horn Nielsen is pleased to welcome Michael Lund Jensen:
“Michael Lund Jensen brings very valuable CFO experience, which will strengthen the already highly competent and compact organisation that Nordsøfonden is today. Michael has a very deep understanding of the oil and gas industry and a good knowledge of the green transition in the energy sector, including CO2 storage. I believe we have found a very good match in Michael for Nordsøfonden and for the complexity that characterises our tasks.”
Michael Lund Jensen graduated with a degree in economics (cand.polit.) in 2001 and joins Nordsøfonden from a position as Chief Financial Officer at Kalundborg Refinery. During his career in the energy sector, he has, among other things, spent many years at Shell, both in Denmark and abroad.
“I am very much looking forward to taking on my new role at Nordsøfonden – a company that contributed DKK 2 billion to the Danish state last year and therefore rightly can be regarded as an important asset to Denmark. As part of Nordsøfonden’s management team, my focus will be on ensuring that Nordsøfonden’s financial and administrative functions are firmly established, so that they can best support Nordsøfonden in fulfilling its responsibilities, both within security of supply and the reduction of CO2 emissions,” says Michael Lund Jensen.
Nordsøfonden generates revenue from the sale of its share of the oil and gas produced. Costs related to licence activities, taxes, administration, etc. are covered by this revenue. Nordsøfonden transfers its entire annual surplus to the Danish state as a dividend.
