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.