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Statoil reorganizes business units

By Religare

Statoil announced adjustments to the company's structure and operating model with the aim of becoming a more cost efficient and fit for the future organisation.

The changes support and are an integral part of the ongoing efficiency work through the STEP (Statoil Technical Efficiency Programme) and OE (Organisational efficiency) programmes.

"We need to continue our efforts to increase efficiency and reduce costs. Our aim is to become a more cost efficient and fit for the future organisation. These changes will support this ambition by reducing organisational complexity, clarifying roles, utilising people resources more efficiently and strengthening line accountability. A pre-requisite is that we will continue to deliver safe and efficient operations, including high-quality support to our assets," says Eldar Stre, President and CEO of Statoil.

Story first published: Friday, June 26, 2015, 23:00 [IST]
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