Scana Names Baste Tveito as New CEO in Leadership Shake-Up

Norway’s Offshore Energy Firm Bets on Operational Veteran

Scana, the Norway-based offshore energy technology company, has announced a leadership transition, with Baste Tveito stepping into the CEO role effective May 27. The move comes as outgoing CEO Pål Selvik prepares to depart, marking the end of an era for the firm. Tveito, who previously served as Scana’s Chief Operating Officer, brings a deep well of expertise from the oil and gas sector, systems engineering, and business leadership—a combination the company hopes will fuel its next phase of growth.

“I’m honored and motivated to take Scana forward,” Tveito said. “This is a pivotal moment for the industry, and we’re positioned to innovate.”

Selvik’s exit follows a tenure that saw him wear dual hats as both chairman and CEO, a rare arrangement in the corporate world. Reflecting on his time at the helm, Selvik called the experience “rewarding” and emphasized his confidence in the team’s future. Notably, he agreed to a six-month lock-up period for his Scana shares, a gesture signaling stability during the transition. The move avoids sudden market fluctuations and reassures investors of continuity.

Industry Shifts and Scana’s Positioning

Tveito’s appointment underscores Scana’s focus on operational excellence as the offshore energy sector navigates turbulent markets. His background—spanning technical and managerial roles—aligns with the company’s push to integrate cutting-edge solutions for oil, gas, and renewable energy projects. Meanwhile, GustoMSC, a subsidiary of NOV’s Marine and Construction division, looms as a key competitor in offshore engineering, setting the stage for intensified rivalry.

“Scana’s strength lies in its adaptability,” Selvik remarked in his farewell statement. “The foundation is solid, and the team is ready.”

For now, analysts will watch how Tveito balances legacy oil and gas projects with emerging opportunities in renewables. With Selvik’s shares locked and a seasoned operator at the wheel, Scana’s board appears to be playing the long game—one where stability and innovation must coexist.