Norsk Hydro undergoes reorganization
  by: OilOnline
  Monday, October 15, 2001

Norsk Hydro's oil and gas operations on the Norwegian continental shelf will be divided into two new divisions. Operations and Production Norway will be responsible for safe and efficient operation of oil and gas fields where Norsk Hydro is operator. This division also will oversee development of these fields, their infrastructure and installations. The division will be based in Bergen. The Exploration and Development Norway unit will be responsible for exploration and field development in new areas on the shelf, plus commercial management of Hydro's total involvement in the Norwegian oil and gas sector. The division will be headquartered in Kjorbo, Sandvika, near Oslo. The two divisions form part of Hydro's Oil and Energy business area headed by executive vice president Tore Torvund. Norsk Hydro said its operations in Norway have grown considerably in recent years, and serves as operator on 15 field installations producing a total of some 1.3 million barrels of oil per day. The company said the Norwegian shelf is one of the most important factors in Hydro's development; the company will intensify its concentration in Norway by dividing administrative management into the new separate divisions.

After the reorganization, Exploration and Production International will still have overall responsibility for development of technology and expertise in the Oil and Energy area.