Two StatoilHydro Execs Resign

Tuesday, October 07, 2008

Executive vice president for Exploration and Production Norway (EPN), Tore Torvund, and executive vice president for Projects, Morten Ruud, are resigning from their present posts and StatoilHydro's corporate executive committee.  Reports indicate the resignations are a result of a probe into possible corruption in Libyan oil contracts.

Øystein Michelsen and Helga Nes have today been appointed acting executive vice presidents for Exploration & Production Norway and Projects respectively.  Both will join StatoilHydro's corporate executive committee.               

Øystein Michelsen has been senior vice president for Operations North in the EPN business area since the merger.

Helga Nes has been vice president for the Projects business area in charge of human relations and health, safety and the environment since the merger.


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