Mr. Farestveit has a M.Sc. in geophysics and has 45 years’ experience from the seismic and oil exploration industry. He founded GECO in 1972 and served as CEO until 1987. He later served as Working Chairman of Schlumberger Norge until 1999. Farestveit established the seismic company Wavefield InSeis ASA which was listed at the Oslo Stock exchange in 2007 and subsequently acquired by CGG in 2008 where he served as Board Director. He has been recognized for his contribution to the seismic industry and has received several awards, as Honorary Doctor University of Bergen, Honorary member SEG and 1993 Oilman of the year by Society of Petroleum Engineers (SPE) International. Farestveit served as Board Director in DNO for many years and currently he is Working Chairman in the marine seismic company Magseis.