Statoil name successor to Olav Fjell

Norway's biggest oil producer, Statoil, has named Helge Lund as its chief executive, almost six months after corruption allegations forced three top Statoil officials to step down.

Lund, 42, succeeds Olav Fjell who left the company last September after Norwegian police began examining whether the company had used a consulting contract to bribe Iranian officials and gain business.

The US Securities and Exchange Commission began its own investigation on September 26. Lund has been chief executive of Aker Kvaerner, a Norwegian oilrig builder and engineering company, for the past two years.

Statoil, which employs almost 20,000 people worldwide, is 82% owned by Norway's government and was set up in 1972 to exploit newly discovered North Sea oil fields.

The company employs around 1,200 people in Ireland and holds approximately 20% of Ireland's fuel market. It has been operating in the country since 1992 when it acquired BP's service station network.