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New Rocksource CEO Terje Arnesen. Image courtesy of Bergen Group.

Former Norway-based Bergen Group CEO Terje Arnesen has been named the new CEO at Rocksource..

He will take over for current CEO Chris Spencer on November 1, 2014, the company said Friday.

Rocksource is a Norway-based independent exploration firm focusing on the Norwegian Continental Shelf.

Arnesen is currently the temporary CEO of Norway-based Scana Propulsion AS.

He also served as CEO of Norway-based Bennex Group AS and in several national and international senior management roles at Rolls-Royce Marine.

He currently lives in Bergen, Norway where Rocksource’s new headquarters will be.

In January 2014, Rocksource decided to consolidate all its activities to the company’s headquarters in Bergen.

The move was made to boost operational efficiency and enable closer integration between the company’s technical and financial arms.

The transition remains on track and will be concluded when Arnesen takes over as CEO.

Arnesen’s appointment concludes the senior management replacement process sparked by the consolidation, Rocksource’s Chairman of the Board said.

“I am delighted to have the opportunity to build on the success of Rocksource in 2014 and further develop the Company into a material Bergen-based E&P company,” Arnesen said.