Mr Haugnaess has worked in the Oil Industry for 34 years. He started his career in Schlumberger Oilfield Services where he worked for 23 years within Field Operations, Staff and Line Management and covered operations in Europe, Africa, Middle East and Asia. He is the former President of Ocean Rig ASA, a deep water drilling contractor. He has held several directorships in International Oil Companies. Mr Haugnaess holds a Msc in Petroleum Technology from NTH (NTNU) Trondheim, Norway.