Statoil Group News

Global Maritime Group has appointed Peder Sortland as its first CEO. Sortland comes from the post of CEO at Apply ASA, and knows part of the group well from holding the position as chair of Global Maritime AS since April 2014. Before joining Apply in 2012, Sortland was chief executive of Ross Offshore and Subsea Technology Group. He has also managed the Norwegian unit of Subsea 7, and held the position as chair in Ocean Installer. He held a number of leading posts in the Statoil group from 1992-2010, covering upstream and downstream oil and gas activities both in Norway and internationally.

Statoil's Board of Directors (OSE: STL, NYSE: STO) has decided to start a process to list its energy and retail business on the Oslo Stock Exchange. Further to the announcement made on the 3rd of February 2010, Statoil's Board of Directors has approved the proposal to create a stand-alone Energy & Retail (E&R) business through an initial public offering (IPO) on the Oslo Stock Exchange. The IPO will take place at the earliest in the fourth quarter of 2010 or at a time when the capital market is deemed favorable for such an offering. Statoil intends to remain a majority shareholder of E&R at the time of the initial public offering and listing.

At its meeting on March 7, 2004, Statoil's board of directors appointed Helge Lund (42) as new chief executive for the Statoil group. Mr Lund is currently chief executive of Aker Kværner ASA. "Helge Lund was the first choice of the board and we are very pleased that he has agreed to lead Statoil in the years ahead," said Statoil chair Jannik Lindbæk. Lund graduated as a business economist at the Norwegian School of Economics and Business Administrationin Bergen. He also has a master of business administration (MBA) from the Insead business school in France. Before he became chief executive of Aker Kværner, Lund had a number of positions in the Aker RGI system, and before that he had a central role in the top management of Hafslund Nycomed.