North Energy ASA

F:RN2

Business Description

Sector

Financials

Industry

Financial Services

Headquarters

Norway NO

Employees

3

IPO date

Feb 5, 2010

North Energy ASA is a Norwegian investment company rather than a traditional oil and gas producer. It uses its own balance sheet to buy, hold, and sometimes sell stakes in other businesses, with a focus that has included energy-related assets and other listed and private investments. The company does not sell a consumer product; instead, it tries to create value by backing companies and assets it believes are undervalued or strategically interesting.

Its money comes mainly from investment returns such as dividends, share gains, and gains or losses on the value of its portfolio. In some cases it may also earn fees or other income tied to its holdings. The company’s main “customers” are really its shareholders, because the business is built to turn capital into long-term investment returns rather than to serve end markets with products or services.

What makes North Energy different is that it sits one step above the operating businesses. It is not drilling wells or running grids itself; it allocates capital to companies that do those jobs or to other assets where it sees potential. That makes it more like a focused holding company and capital allocator than a standard energy firm.