We provide the equipment, expertise and support our clients need to perform with confidence across offshore, subsea and energy operations.
Many grow up believing ownership is the ultimate goal. A house with your name on the deed, a car in the driveway, all the tools you’ll ever need in the shed. Ownership is held up as success, renting dismissed as a necessary, temporary evil. But there is another way to look at it. The NOR way.
Ownership can weigh you down, whereas to rent is to live lightly. To trade permanence for possibility. Take exactly what you need, when you need it – and move forward unrestrained and unburdened. No upkeep. No storage. No responsibilities holding you back when an opportunity presents itself.
Project support
Global reach, local support
Rental pool
Newest in the industry
NOR stands for Norwegian Offshore Rental. These three words describe more than what we do. They shape how we think, how we work and how we support our customers.
We were shaped in Norway, where demanding conditions leave little room for shortcuts. That reality has created a mindset built on discipline, responsibility and delivering what you promise.
Today, we bring that mindset into every market we operate in, helping customers move faster, stay ready and approach complex projects with confidence.
Shaped by a culture of trust, accountability and practical problem solving. We do what we say we will do, and we take responsibility for the quality we deliver.
Built for demanding environments where preparation matters, margins are small and there is no room for unnecessary risk or delay.
A smarter way to access the equipment you need, when you need it. We carry the responsibility of ownership, so our customers can stay flexible and focused.
It’s pronounced “excellence”
Commercial Excellence at NOR means winning through precision and flexibility, understanding customer needs before they do. We build strong relationships based on trust, challenge ourselves to innovate, and expand our portfolio for lasting competitive strength.
Operational Excellence at NOR means delivering safely and efficiently every time. We ensure high uptime, precise deliveries, and a safe workshop with no injuries or damage. Through quality work and continuous improvement, we reduce deviations and optimize resources.
Financial Excellence means NOR is the most profitable and robust company. We control costs, liquidity, and cash flow, ensuring access to capital for growth. By monitoring profitability and financial structure, we create a platform for stability and development.
People Excellence means motivated, skilled employees thriving at NOR. We attract top talent, develop careers, and build a culture of collaboration, safety, and pride.
Our customer promise
Reliable equipment starts with people who know what is at stake. Across sales, project support, workshop, logistics and documentation, our teams understand the operations our customers are preparing for and the standards their projects depend on. That knowledge shapes every delivery, from preparation and testing to documentation and support, helping ensure equipment is ready to perform.
Our values
Protecting what matters
Safety isn’t a slogan – it’s how we operate. We look after our people, our customers and the environments we work in by taking responsibility, showing up and doing things properly every time. Care is how we earn trust.
Moving when others wait
We’re not here to follow the industry – we’re here to improve it. We seek opportunities, take smart risks and back ourselves to deliver in demanding conditions. Courage is how we grow.
Performing as one
We combine strengths across disciplines, borders and roles. We share our expertise, challenge each other and solve complex problems fast – as one team. Collaboration is how we win
Guiding NOR forward
Our leadership team and board help ensure that NOR continues to grow with the right competence, structure and long term direction. They support our commitment to reliable equipment, responsible operations and people our customers can trust.
Chairman
Mads Ragnar Bårdsen (born 1971) is CEO of Ydra and an experienced leader within the subsea, offshore and industrial segments.
Bårdsen has a solid technical and commercial background, with an M.Sc. from NTNU and studies in finance and management at NTNU, NHH and the National University of Singapore. He started his career as a project engineer at Stolt Comex Seaway, before moving on to DeepOcean, where over a period of more than 15 years he held a number of senior roles, including the role of Managing Director.
At DeepOcean, he was part of the executive management team and held key roles in the development of the company’s subsea and project organisation, including responsibility for complex offshore operations and international deliveries.
In 2019, he took up the role of CEO at Ydra, established by the Hatteland Group through the merger of Mapex and Vest Jet. Under his leadership, the company has further developed its position as a specialised supplier of pump systems and solutions for ocean space related industries, including offshore, aquaculture and the maritime sector.
Bårdsen has also held board positions in several companies within the subsea and industrial segments.
He represents a leadership profile with strong operational understanding combined with strategic and commercial expertise, and throughout his career he has been committed to developing robust solutions for demanding environments in ocean based industry.
Board Secretary
Finn Eide is an experienced lawyer and partner at Haver Advokatfirma, with particular expertise in tax, corporate law, M&A and dispute resolution. He serves as Board Secretary of NOR Group.
Eide holds a law degree from the University of Oslo, with specialisation in both corporate law and tax law. He was a partner at Deloitte Advokatfirma from 1997 to 2020 and was Chairman of the Board of this law firm from 1997 to 2016, where he contributed to developing Deloitte Advokatfirma into one of the country’s largest and leading firms within business law advisory services.
In 2020, he was admitted as a partner at Haver Advokatfirma. Here, he works mainly with corporate law, tax law, transactions, generational transitions and litigation before the courts. He has the right of audience before the Supreme Court and is a recognised adviser to both larger groups and family owned businesses.
Throughout his career, Finn Eide has held a number of key board and trust positions. In addition to being Chairman of the Board of Deloitte Advokatfirma, he has been Chair of the Norwegian Bar Association Sør-Rogaland, a member of the Norwegian Bar Association’s legislative committee for tax law and a member of the Director of Public Prosecutions’ evaluation committee for the Transocean case. He has also held board positions within business, civil society organisations and sport, including Viking Fotballklubb, Virginia Holding and Stavanger Utvikling KF. During the period 2021–2024, he was a board member of Norwegian Offshore Rental AS, and today he is associated with NOR Group as Board Secretary.
Finn Eide has written articles in Norwegian and international professional journals, has been a regular columnist in Finansavisen, and has taught tax law at both the University of Bergen and the University of Stavanger. He combines legal substance with strategic understanding of the needs of business and regional development.
Board Member
Jan Sigurd Østebøvik (born 1984) founded NOR together with Geir Egil Østebøvik in 2011 and has played a central role in the company’s development from a Norwegian rental company into an international provider of equipment and services to the offshore, subsea and renewable energy industries.
Before establishing NOR, Jan Sigurd gained commercial and operational experience from Imenco, where he worked in sales and purchasing from 2000 to 2011. His responsibilities included supplier development, cost improvement, cost control, quality assurance and commercial follow-up, as well as building and maintaining relationships with key contacts. He has also been a board member within the Imenco group since 2009, giving him valuable insight into technology driven industrial businesses and the supplier side of the offshore market.
As founder, long-term owner, board member and Investment and Analysis Manager, Jan Sigurd represents entrepreneurial insight, continuity and strong commercial understanding. His dedication has supported NOR’s growth, including the expansion of its rental fleet, the strengthening of its international presence and the development of its position in key offshore and subsea markets.
He contributes to the Board of Directors with strong market understanding, strategic perspective and a long-term focus on sustainable growth and value creation, supporting NOR’s position as a trusted partner for customers worldwide.
Board Member
Kristin Kinn Kaste grew up in Haugesund and holds a Master of Science in Chemical Engineering from the Norwegian University of Science and Technology (NTNU).
She has more than 20 years’ experience in the oil and gas industry through various roles and management positions in Gassco AS. During her career, she has worked with analyses in the operation and development of the gas infrastructure, and has held various leadership roles in technology, R&D, plant operations and system operations.
Kristin is a member of Gassco’s management team and is currently responsible for safe, reliable and efficient operation of the gas infrastructure, which includes process plants, pipelines, riser platforms and receiving terminals in Europe, including extensive cooperation with players in the gas industry on the Norwegian continental shelf.
She will contribute with insight and great expertise in NOR’s development going forward. The company will benefit greatly from her valuable experience from industry and management.
Board Member
Sven Stakkestad (born 1956) holds a degree in economics and business administration from NHH and is an experienced leader in the offshore and maritime industry, with a long career at Solstad Offshore, where he has held roles including Chief Financial Officer (CFO) and Deputy CEO.
Stakkestad has been associated with Solstad Offshore ASA since early in his career, with his first role as a financial adviser as early as 1981. Over several decades, he has held key areas of responsibility within finance, organisation and administration, including debt financing, the company’s stock exchange listing in 1997 and the establishment of international offices in locations including Aberdeen and Brazil.
He has also had operational responsibility for the company’s activities in Asia, including management of Solstad’s activities in Singapore, and has played an important role in the company’s international expansion.
As part of the executive management team at Solstad Offshore, Stakkestad has been closely involved in strategic processes, mergers and restructurings in a cyclical and capital intensive industry. His expertise ranges from financial structures to operational execution in global offshore markets.
Following his operational career at Solstad, he has continued his engagement in the industry through board positions and leadership roles, including as Chairman of the Board of Kystdesign AS, board member of FKH AS and two companies in the Imenco Group.
Board Member
Astrid Bru Sætrevik grew up in Kopervik and holds a Master of Science in Business and Economics from the Norwegian School of Economics (NHH).
She has over 15 years of experience from the process industry through various management positions in Norsk Hydro ASA. During her career, she has worked both operationally and strategically with areas such as financial management, strategic purchasing, production management and logistics.
Recent years, she has worked as a consultant at Dusin AS, where she has assisted companies in achieving their ambitions through structured and goal-oriented improvement work.
Her solid experience from industry and improvement work provides NOR with valuable insight and expertise in our further development.
