BAKU, Azerbaijan, March 19. Equinor is
reorganizing its operations by establishing two new business areas
to strengthen safety, efficiency, and long-term value creation,
Trend reports
via the company.
These will replace the current Marketing, Midstream and
Processing (MMP) business area and better position the company to
capture market opportunities.
1. Midstream, Processing, and
Infrastructure
This business area will oversee onshore refineries, operated
terminals, pipelines, storage facilities, and processing plants.
Its mandate is to ensure safe, secure, and reliable operations
while creating value through enhanced flexibility and closer
collaboration with Exploration and Production Norway (EPN). The
area will be led by Geir Sørtvedt.
2. Market-Oriented Business Area
The second business area will focus on trading, marketing, and
capturing value across diverse energy products, leveraging
innovative digital solutions. By enhancing insight into market
developments and customer demand, it will enable better commercial
decisions across Equinor. The area will also consolidate trading
and marketing activities, building on the updated commercial
strategy developed by the former MMP team. Irene Rummelhoff will
lead this business area.
The split into two distinct business areas aims to align
strategy, operations, and organizational structure, with clearer
accountability and more effective use of assets, data, and
capabilities across Equinor.
A project is underway to further refine the operating model and
organizational setup, including potential updates to reporting
segments. The company plans to finalize the new structure by summer
2026, with the organization expected to be fully operational in
early 2027.
