Equinor’s new chief executive Anders Opedal has wasted no time in making a raft of changes to the Norwegian state-controlled giant's corporate structure and executive management team.

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The Oslo-listed energy company on Monday announced a new corporate structure consisting of six business areas, down from the current tally of eight.

The changes take effect from 1 June next year.

New business units

The six business areas will be: exploration and production Norway; exploration and production international; renewables (which will be renamed new energy solutions); technology and digital innovation; projects, drilling and procurement; and marketing, midstream and processing.

An Equinor spokesman told Upstream that the company believes fewer business areas will strengthen its ability to deliver on its strategy of safe, high value and low-carbon operations.

“We are establishing technology, digital and innovation as a separate business area as these are fundamental enablers to improve safety, increase value creation, reduce emissions and develop low carbon solutions,” Pedersen said

He added that safety, security and sustainability will be established as a new functional area, in line with the structure further down in the company’s organisation.

Management changes

Equinor is also making several changes in its corporate executive committee. Opedal — who took over from Eldar Saetre on 1 November — said that the changes reflect a good mix of continuity and renewal, diversity and experience from across Equinor and the industry.

“With this new team and a highly competent organisation, we are ready to take Equinor forward together,” he said.

Kjetil Hove will step into the role of vice president for development and production Norway, with Al Cook becoming vice president for development and production international, including the global strategy and business development portfolio.

Arne Sigve Nylund will become vice president of technology, projects and drilling.

Current head of Equinor Brazil Margareth Ovrum has previously announced that she will retire 31 December.

Senior vice president of marketing and communication Reidar Gjaerum will step into a senior advisor role in the chief executive office from 1 January.

Geir Tungesvik — who has been acting as vice president for technology, projects, and drilling — will return to his role as senior vice president of projects 1 January. Tore Loseth will continue as acting vice president for exploration until 1 June.

Torgrim Reitan has decided to step down as vice president of development and production international to take on a new position within Equinor.