WASHINGTON (dpa-AFX) - Noble Energy, Inc. (NBL) Monday announced a few changes in is organizational structure and executive leadership. The firm said the organizational structure has been crafted to 'better align business units with common activities by taking advantage of natural synergies and to better balance responsibilities to facilitate growth.'
The company said the new structure includes three major operating regions, U.S. Onshore; Eastern Mediterranean; and U.S. Gulf of Mexico, Africa and Frontier. Expected to be included in the U.S. Onshore region is its unconventional horizontal developments in the Marcellus Shale and DJ Basin, which it expects to help facilitate the rapid transfer of best practices and learnings between these areas. The firm added that the Eastern Mediterranean has become a very material region on its own, requiring focused senior leadership as a result of Tamar recently coming on stream and several future projects being planned for offshore Israel and Cyprus. Further, the combined U.S. GOM, Africa and Frontier region allows it to focus on its very material deepwater operations while preparing for the impacts of exploration success in the new areas it will be testing, Noble Energy said in a statement.
Other changes include the creation of a Global Operations Services organization and a Corporate Development group. Additionally, two senior advisory positions to the CEO and COO have been established to work with the new leadership teams.
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