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Hitec founder Jon Gjedebo receives OTC Heritage award

Stavanger, 2 March 2007: Jon Gjedebo, co-founder of the Hitec group and HitecVision Private Equity, has been honoured with the OTC Heritage Award for his contributions to the technological development in the offshore industry.

Jon Gjedebo has been an entrepreneur within the international oil and gas industry in different capacities for more than three decades, combining technical and business expertise. The key aspect for Gjedebo throughout his career has been to improve the relationship between man, machine and environment.

Established in 1985, the Hitec group under Gjedebo's leadership became a world-leading pioneer on mechanical solutions and computer-controlled equipment on drilling rigs. The developments initiated by Hitec also included innovative multi-phase flow measurement technology and active heave compensation draw works for floating drilling units.

Under Gjedebo’s management Hitec initiated the quantum-leap development of one of the world’s first fifth-generation drill ships; Navis. Hitec went public in 1994 and was acquired by National Oilwell in 2000. Following the sale HitecVision was established as a specialized investment company within the oil and gas sector, with Gjedebo as Chairman. Today HitecVision is a pure private equity firm, managing funds with a combined capital base of about USD 410 million.

Through the Hitec system Gjedebo has been involved in establishing or investing in more than 60 companies, many of which have subsequently gone public.

Gjedebo has served on numerous boards, committees and public bodies. He has previously been elected ”Entrepreneur of the Year” and ”Oilman of the Year” in Norway.

Publisher Contact Information:

HitecVision Private Equity AS
+47 51 20 20 20

Company profile of HitecVision Private Equity AS
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