Equinor establishing temporary corporate project in response to coronavirus

Equinor establishing temporary corporate project in response to coronavirus

BAKU, Azerbaijan, March 17

By Leman Zeynalova – Trend:

Norway’s Equinor is establishing a temporary corporate project to handle both short-term immediate response and long-term implications amid coronavirus, Trend reports citing the company.

“The project will be established and structured over the coming days and will be headed by EVP Pål Eitrheim reporting directly to CEO Eldar Sætre. An already working internal project focusing on immediate response and short-term business continuity issues will be incorporated into the new corporate project. Eitrheim will in this role still be part of the CEC. SVP Jens Økland will be acting head of NES while Eitrheim is heading this project,” said the company.

"The outbreak of the Corona virus and the fall in commodity prices will impact Equinor for a long time. We are a robust company with a strong balance sheet, and we are now really benefitting from the strong improvements in recent years. But it will be necessary to take forceful action to reduce risk, protect our business and operations and to ensure the long-term robustness of our company. I have therefore asked Pål Eitrheim to lead our work on this and it will be on top of the agenda for our Corporate Executive Committee and Board of Directors," says Sætre.

Equinor said it has already implemented significant measures to limit the spread of the Corona virus and to ensure business continuity during these challenging times, including reducing and delaying non-critical tasks at fields and plants, implemented procedures for working from home and taken strict travel restrictions and quarantine measures.

“There will be uncertainty and volatility going forward, and Equinor will continuously evaluate measures to respond. Keeping production going and ensuring that we can deliver oil and gas to our customers have high priority,” said the company.

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Follow the author on Twitter: @Lyaman_Zeyn

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