The figure below provides an overview of the organisational structure of our business areas and staff functions up to and including 31 December 2010.

A new corporate structure was implemented with effect from 1 January 2011 (see the figure and descriptions below). The changes were made in order to simplify the organisation and clarify internal accountability. The following Strategy section reflects the organisation as from 1 January 2011. However, the rest of the presentation in this annual report on Form 20-F 2010 is based on the organisation as of 31 December 2010.

Development and Production business areas

Our Development and Production business areas encompass our worldwide upstream activities. Development and Production Norway (DPN) comprises our upstream activities on the Norwegian continental shelf (NCS), Development and Production North America (DPNA) comprises our upstream activities in North America, and Development and Production International (DPI) comprises our worldwide upstream activities that are not included in the DPN and DPNA business areas.

Our upstream activities were previously included in the Exploration & Production Norway and International Exploration & Production business areas. Over the past few years, we have made large investments in North America. Establishing DPNA as a separate business area reflects the importance of the region to our business.

Marketing, Processing and Renewable Energy

The activities previously included in Natural Gas, Manufacturing & Marketing and the New Energy unit of Technology & New Energy comprise Marketing, Processing and Renewable Energy (MPR). We expect that combining these activities will create synergies in operating our onshore plants and marketing and trading activities.

Technology, Projects and Drilling

The new business area Technology, Projects and Drilling (TPD) combines the activities previously included in the Technology unit of Technology & New Energy, the Projects & Procurement business area and the Drilling and Well unit of Exploration & Production Norway. Combining these activities simplifies work processes and significantly reduces the numbers of internal interfaces.

Exploration

Exploration is a new business area. Our exploration activities were previously part of Exploration & Production Norway and International Exploration & Production. We expect that a single global exploration business area will strengthen the deployment of resources to priority activities across the portfolio.

Global Strategy and Business Development

Global Strategy and Business Development (GSB) is also a new business area. GSB is responsible for setting the corporate strategy, business development, and merger and acquisition activities (M&A).