Statoil ASA (STO) revamped its structure and operations model to become more cost-efficient and future-focused, the company said June 25. The company is working on efficiency through its Statoil Technical Efficiency Program (STEP) and Organizational Efficiency programs.
Key changes involve the development and production Norway (DPN) department and technology, projects and drilling (TPD) department.
DPN will increase its focus on mid- and north-Norway by consolidating operations into the Operations North segment. Management will be spread across various locations. Cost saving, synergy and future business are the focus for the Norwegian Sea and Barents Sea operations areas, the company said.
TPD will feature the merged TPD technical excellence and TPD research, development and innovation in one new research and technology unit, the TDP R&T.
End-to-end technology development and implementation will be integrated.
Project development will be simplified. The current project organization will be merged with field development in the renamed project development sector. This sector combines DPN, development and production international and marketing, midstream and processing.
The COO will emphasize strengthen safe and efficient operations across the company, handling safety and security, analysis of operational efficiency, operational improvement projects, management system and operational efficiency.
Statoil added that corporate safety and security will transfer to the COO organization on August 1.
The changes will be fully detailed in the business areas through October. All structural changes will be fully underway toward year-end 2015, the company added.
COO Anders Opedal said the full implementation of STEP is behind the changes.
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