Equinor: unveils new structure under low carbon strategy
(CercleFinance.com) - Equinor on Monday unveiled a new corporate structure as the Norwegian oil and gas company is making changes to strengthen its low carbon strategy.
The new organisational structure, which will consist of six business areas and five corporate centers, is slated to be fully implemented in June 2021, the former Statoil said.
The Exploration & Production Norway (EPN) and Exploration & Production International (EPI) units are established as two new business areas, while Renewables (REN) continues as a business area, renamed from New Energy Solutions (NES), the company said.
The renewables unit aims to accelerate profitable growth within green energy and will report as a separate segment from the first quarter of 2021, Equinor pointed out.
Equinor said it is also establishing Technology, Digital & Innovation (TDI) as a separate business area, while Projects, Drilling & Procurement (PDP) will become a more focused business area.
Meanwhile, its Marketing, Midstream & Processing (MMP) unit remains unchanged as a business area.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The new organisational structure, which will consist of six business areas and five corporate centers, is slated to be fully implemented in June 2021, the former Statoil said.
The Exploration & Production Norway (EPN) and Exploration & Production International (EPI) units are established as two new business areas, while Renewables (REN) continues as a business area, renamed from New Energy Solutions (NES), the company said.
The renewables unit aims to accelerate profitable growth within green energy and will report as a separate segment from the first quarter of 2021, Equinor pointed out.
Equinor said it is also establishing Technology, Digital & Innovation (TDI) as a separate business area, while Projects, Drilling & Procurement (PDP) will become a more focused business area.
Meanwhile, its Marketing, Midstream & Processing (MMP) unit remains unchanged as a business area.
Copyright (c) 2020 CercleFinance.com. All rights reserved.