Norway: StatoilHydro Appoints Key Senior Executives
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Tuesday, 11 November 2008 |
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StatoilHydro ASA has announced the appointment of three senior
executives after a corruption investigation into Libyan oil contracts
forced out two top managers.
StatoilHydro, which is the largest producer on Norway's offshore fields, said Oeystein Michelsen, 52, has been appointed executive vice president for Norwegian exploration and production. Gunnar Myreboe, 59, was named executive vice president for projects and Helga Nes, 52, was appointed executive vice president of corporate staff and services. "In the space of a short time we have put in place a highly experienced and competent management for important parts of StatoilHydro," said chief executive Helge Lund in a news release.
The appointments will replace executive vice presidents Tore Torvund and Morten Ruud, who resigned on Oct. 7 after an internal investigation into the handling of Libyan contracts. Legal concerns over the contracts arose a year ago, when Statoil ASA took over the oil and gas unit of Norwegian rival Norsk Hydro ASA to form StatoilHydro. Both Torvund and Ruud came from Norsk Hydro. Michelsen and Myreboe will replace them, while Nes' post was created as part of changes in management duties.
The questionable contracts regarded more than $7 million in fees to Libyan consultants as part of a bid to win oil exploration licenses from the Libyan National Oil Corporation.
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