A Review of the Nigerian Energy Industry

Statoil re-jigs business units

25 June 2015, News Wires – Statoil is stepping up its cost control measures by merging some business units and giving its new chief operating officer more responsibilities.

StatoilThe Norwegian state oil major, which has cut staff and pared back spending, is aiming “to become a more cost efficient and fit for the future organisation” through Thursday’s announced adjustments.

Statoil is consolidating its operations in the Norwegian and Barents seas into one business unit, operations north.

“The activities at the various office locations will continue like before, and the management team will be spread on the respective locations,” Statoil said.

“By combining the expert communities in both regions, the goal is to capture synergies, cost savings, and deepen our position for future business opportunities.”

The company is also merging its technical excellence and research, development & innovation wings into a new research & technology unit for the technology, projects and drilling space.

“In addition the project development process will be simplified,” it continued.

“The current project organisation will be merged with field development in development & production Norway, development & production international and marketing, midstream & processing and renamed project development.

“This unit will take on full ownership to the totality of project development.”

Also, chief executive Anders Opedal, appointed in March, will take over responsibilities for safety and security, analysis of operational efficiency, operational improvement projects, management system and operational efficiency

Today Statoil announces adjustments to the company’s structure and operating model. The aim is to become a more cost efficient and fit for the future organisation.

“The changes will be fully detailed in the business areas between now and end of October. The new organisation (where there are structural changes) will be fully operational towards the end of the year,” Statoil said.

– Upstream

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