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20.01.2026 AGR Asset Evaluations & Reserves Reservoir Management & Subsurface

AGR appoints Lone Margrethe Olstad as VP Subsurface

AGR has appointed a new manager for its subsurface and reservoir management business unit. Lone Margrethe Olstad further strengthens the company’s multidisciplinary leadership team at a time of increasing technical complexity, maturing basins, and the energy industry’s transition.

Lone brings more than 25 years of experience combining subsurface, reservoir, and production optimisation with leadership roles spanning alliance models, large project portfolios, and technology-driven transformation.

Before joining AGR, Lone gained extensive international operator experience and held executive positions focusing on performance improvement, cost reductions, and accelerated value delivery.

Across roles at ExxonMobil and Marathon Oil, she led reservoir management, production optimisation, and offshore assets, with a focus on delivering material production and value improvements. At Aker BP, she played a key role in establishing and leading subsea alliance models that significantly reduced both cost and execution time. Most recently, she led large, geographically distributed delivery and project organisations in the technology sector, adding depth to her skills to drive transformation at scale.

AGR’s subsurface and reservoir management division is recognised for its technical excellence and holistic project management approach, built over three decades of trusted client relationships. In her new role, Lone will support the continued development of the division, expanding AGR´s G&G, reservoir management, and reserves and resources evaluation capabilities to meet client needs in Norway and internationally.

Svein Sollund, CEO of AGR, commented:

We are pleased to welcome Lone to AGR. Our subsurface team has built an international reputation for delivering independent subsurface consultancy across more than 1,700 studies and 1,500 asset evaluations worldwide. Lone’s combination of deep subsurface expertise, strong leadership experience, and commercial mindset strongly complements our team, and we are even better positioned to help clients navigate increasing technical complexity, emissions reduction targets, and evolving performance requirements.”

On joining AGR, Lone (pictured above) says:

Joining AGR is an exciting opportunity to lead such a highly reputable subsurface team. I look forward to further building on AGR´s position as a trusted independent partner delivering robust subsurface insight that optimises value creation while supporting the industry transition.”

Effective subsurface management lays the strategic foundation for the sustainable technical and economic management of assets.

AGR subsurface and reservoir management team provides comprehensive consultancy from initial license round bidding, exploration through to field development, production optimisation, and final preparation for asset accessions and decommissioning.

We add value through our multidisciplinary approach combining geology, geophysics, geomechanics, petrophysics, and reservoir engineering with proprietary digital tools to reduce risk, maximise recovery and help build more resilient long-term reserves and resources management strategies.

Explore more about our subsurface services.