Statoil

Statoil - Den norske stats oljeselskap a.s - is one of the world's largest net sellers of crude oil, and a substantial supplier of natural gas to Europe. It ranks as the biggest retailer of petrol and other oil products in Scandinavia.

The group is the leading player on the Norwegian continental shelf, and has gradually expanded its international upstream operations in recent years.

Statoil's object is, either by itself of through participation in or together with other companies, to carry out exploration, production, transport, refining and marketing of petroleum and petroleum-derived products, as well as other business.

The group is responsible for managing the state's direct financial interest (SDFI) in partnerships engaged in exploration for as well as development, production and transport of oil and gas on the Norwegian continental shelf.

Founded in 1972, Statoil is wholly-owned by the Norwegian state. Net operating revenue for the group in 1998 totalled NOK 107 billion. It had the equivalent of about 18,000 full-time employees at 31 December.

Statoil operates in the following countries:
Norway, Sweden, Denmark, Germany, Poland, Estonia, Latvia, Lithuania, the UK, Ireland, Belgium, France, Russia, Vietnam, Malaysia, Singapore, Azerbaijan, Kazakstan, Angola, Nigeria, the USA, Australia, China and Venezuela.

Address: N-4035
Stavanger,
Norway
Contact: +47 51 99 00 00

www.statoil.com


Recent Articles

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Friday, February 05, 2016 BG Group's upstream business posts earnings of $4.1 billion at the EBITDA level in 2015, marking a 35 percent decrease from 2014.
Faroe to Drill 3 Exploration Wells in 2016 despite Oil Price
Friday, February 05, 2016 Junior oil firm Faroe Petroleum will be involved in three exploration wells offshore Norway in spite of the low oil price.
European Oil Giants Post Steep Profit Falls
Thursday, February 04, 2016 Oil giants Royal Dutch Shell plc and Statoil ASA reveal steep falls in profit in their fourth quarter financial results.
ConocoPhillips Cannibalizes Dividend as Occidental Holds Firm
Thursday, February 04, 2016 ConocoPhillips joins the ranks of oil explorers curtailing dividend payouts after suffering its steepest quarterly loss in almost a decade.
Oil, Gas Service Companies Win Several North Sea Contracts
Wednesday, February 03, 2016 Aker Solutions, Subsea 7, Technip Norway, Ocean Installer, Hereema Fabrication Group and Aibel secure work in the North Sea.
Statoil Says Has no Plans to Invest in Gas Pipeline to Poland
Friday, January 29, 2016 Norway's Statoil will not invest in a gas pipeline to Poland, it says, setting back plans by Polish gas firm PGNiG to reduce its dependence on supplies from Russia.
Statoil Enlists Aker for Johan Castberg FPSO Concept Study
Tuesday, January 26, 2016 Aker Solutions is enlisted by Statoil to provide a concept study for a floating production, storage and offloading facility for the Johan Castberg oil field development in the Barents Sea.
Statoil COO Says Company to Have 20,700-21,000 Staff by End-2016
Tuesday, January 26, 2016 Statoil expects to have between 20,700 and 21,000 employees and consultants working for it by the end of 2016, down from a peak of 25,500.
Norway's Statoil, Det norske Looking For More Acquisitions
Thursday, January 21, 2016 Norwegian oil firms Statoil and Det norske are looking at more acquisitions, according to their chief executives.
Arctic Oil Dreams Get $7B Lifeline in Norway Amid Slump
Wednesday, January 20, 2016 Norway's Arctic ambitions just got a $7 billion boost from Statoil.
Faroe Petroleum Secures 6 New Exploration Licenses on NCS
Wednesday, January 20, 2016 Faroe Petroleum is awarded 6 new prospective exploration licenses, including 2 operatorships, under the 2015 Norwegian APA License Round on the Norwegian Continental Shelf.
Statoil Goes Ahead with Arctic Field After Halving Of Costs
Tuesday, January 19, 2016 Statoil will go ahead with its Arctic Johan Castberg oilfield, the firm's CEO says.
Statoil Acquires Minority Stake in Lundin
Thursday, January 14, 2016 Statoil acquires minority stake in Lundin Petroleum for a total price of approximately SEK 4.6 billion ($539 million).
Norway Still Expects Delayed Output Start at Giant N.Sea Field
Thursday, January 14, 2016 The Norwegian Petroleum Directorate continues to expect production at the Johan Sverdrup oilfield in the North Sea to begin later than Statoil expects it to.
Statoil Picks Subsea Plan For Norway Project After 30% Cost Cut
Wednesday, January 13, 2016 Statoil and its partners agree on a development concept for their Trestakk oil and gas discovery off the coast of Norway.
Statoil Signs New Agreements with Aker, OneSubsea
Friday, January 08, 2016 Statoil signs master service agreements with Aker Solutions and OneSubsea Processing, which form the basis for potential new EPC contracts for subsea equipment in the medium-term future.
Kaarstoe Gas Leak Halted
Friday, January 08, 2016 A gas leak that occurred at the Kaarstoe processing plant Thursday night has now been stopped, says Statoil.
Statoil CEO Says Expects Oil Price to Rise over Time
Thursday, January 07, 2016 Statoil CEO Eldar Saetre says the price of crude oil is likely to rise over time because there is little new production capacity entering the market.
Statoil Awards NCS Services Contracts Worth $1.2B
Tuesday, January 05, 2016 Statoil awards 2 long-term contracts for insulation, scaffolding and surface treatment services to Beerenberg Corp AS and Prezioso Linjebygg AS.
Statoil Receives Consent to Drill North Sea Well
Tuesday, January 05, 2016 Petroleum Safety Authority Norway grants Statoil consent to drill exploration well 30/11-11, located in the North Sea.