Statoil Streamlines Operating Model, Seeks Cost Efficiency

Statoil announced Thursday that it will streamline its operating model in order to become more cost efficient and fit for the future.

The company plans to consolidate operations in mid and north Norway into one business cluster, dubbed Operations North. Statoil’s Technology, Projects & Drilling (TPD) TEX and TPD RDI services will also merge into a new research and technology unit, named TPD R&T. In addition, the company has also stated that its project development process will be simplified.

Statoil’s latest changes form part of the ongoing efficiency work, which is being carried out through the STEP (Statoil Technical Efficiency Program) and OE (Organisational efficiency) schemes. The latest development follows the company’s recent announcement that it could fire 1,500 workers by 2016.

Eldar Sætre, President and CEO of Statoil, commented in a company statement:

"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 organization. These changes will support this ambition by reducing organizational 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."

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