Changes in Statoil’s Corporate Executive Committee

Statoil is making changes in its Corporate Executive Committee (CEC) to ensure renewal, broaden the experience in the leadership team, and further strengthen the leadership pipeline in the company. Reflecting further development of the international portfolio, Statoil is also making some adjustments in its corporate structure. The changes are planned to take effect between 1 May and 15 October.

The President and CEO, Eldar Sætre said “The changes in top management and our business area structure will strengthen our ability to deliver on our always safe, high value and low carbon strategy as we develop as a broad energy company. Several executives will take on new positions to leverage their skills in strategic areas for Statoil while continuing to broaden their experience. These moves open the opportunity to include new members with strong commercial and operational backgrounds in the corporate executive committeeâ€?.

Eldar Sætre also said that “Statoil will establish Brazil as a separate business area as it represents a new core area for Statoil, holding promising offshore oil and gas basins with a significant resource base. This allows the senior leadership team to be close to this area in an important build up phase. The inclusion of the US operations in DPI is a consequence of our US operations maturing significantly over the last few years. Statoil is pursuing unconventional onshore business opportunities globally, and sees synergies in having US onshore operations organised within DPI to capitalise on valuable expertise and ensure learning across geographiesâ€?.

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