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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

Govt: Statoil Must Move Ahead with Snorre Field Expansion
Monday, April 27, 2015 Statoil must move ahead with the delayed upgrade of the Snorre oil and gas field in the North Sea, Norway's energy minister says.
Norway's Giant Sverdrup Oil Field Could Face Delay, Cost Overrun
Friday, April 24, 2015 The start of Norway's 2.3 billion barrel Johan Sverdrup oil field may be delayed and costs could exceed forecasts but the project could break even at about half of the current oil price, authorities say.
Betting on Oil Price Recovery, Statoil Snips Where Rivals Slash
Thursday, April 23, 2015 Statoil cuts investments less than any other oil major this year, positioning for a crude price recovery.
IHS CERAWeek: Statoil Won't Add North American Drilling Rigs This Year
Wednesday, April 22, 2015 Statoil has no plans to add North American drilling rigs this year, an executive tells Reuters.
European Majors Team Up to Explore Arctic
Tuesday, April 21, 2015 Statoil and Eni form BaSEC (Barents Sea Exploration Collaboration) to solve operational issues connected to exploring the Barents Sea for hydrocarbons.
Norway Considers Support For Statoil Project
Tuesday, April 21, 2015 Norway will ask European competition authorities whether it can provide state support to Statoil to bring oil and gas to the shore from its Johan Castberg field.
Statoil CEO: Cost, Carbon Emissions 'Formidable Challenges' for Industry
Tuesday, April 21, 2015 The industry faces challenges in improving its competitiveness while managing the transition to a lower carbon future, Statoil President and CEO Eldar Saetre tells IHS CERAWeek attendees.
Norway's Minister of Petroleum Opens Valemon Field
Friday, April 17, 2015 Norway's Valemon field is officially opened.
Statoil Board Member Resigns to Avoid Conflict of Interest
Wednesday, April 15, 2015 Catherine Hughes resigns from Statoil's board to avoid potential conflict of interest after "a recent change of circumstances".
Statoil Makes Gas Find Near Aasta Hansteen Field
Monday, April 13, 2015 Statoil makes another gas find near its Aasta Hansteen field in the Norwegian Arctic, further raising the gas resource in one of its biggest ongoing projects.
Statoil Strikes Oil at Yeti Prospect in Gulf of Mexico
Thursday, April 09, 2015 Statoil makes an oil discovery in its Miocene Yeti prospect located in the Gulf of Mexico.
New Zealand Offers More Offshore Areas for Bidding in Block Offer 2015
Monday, March 30, 2015 New Zealand offers more offshore exploration areas for bidding in Block Offer 2015.
Statoil Discovers More Gas Offshore Tanzania
Monday, March 30, 2015 Statoil makes another natural gas discovery in Block 2 offshore Tanzania, boosting gas volumes by 1 to 1.8 trillion cubic feet of gas, the company says.
Memo: New BG Boss Hires M&A Specialist From Statoil Weeks After Taking Helm
Monday, March 30, 2015 BG Group's new boss Helge Lund has poached two officials from his former company Statoil for key management positions.
Norway's Statoil Sets Precedent With Government Payment Disclosure
Thursday, March 19, 2015 Statoil releases unprecedented detail about its payments to governments around the world, even as some of its rivals are fighting new rules that will require increased disclosure.
Shell, Statoil, Petronas Gain Exploration Blocks in Indonesia Bid Round
Wednesday, March 18, 2015 Shell, Statoil, Petronas Carigali and Pertamina are among the successful firms in the latest bidding round for 11 oil and gas blocks in Indonesia.
Aker Sets Out Strategic Goals
Tuesday, March 17, 2015 Aker plans to build on strengths in subsea and field design markets, but sees continued slowdown in Norwegian MMO market over the next two years.
ABB Wins NOK 1.1B Statoil Power Contract
Monday, March 16, 2015 ABB wins a $134-million contract from Norway's Statoil to supply power kit to the giant Johan Sverdrup oilfield in the North Sea.
Big Foot Platform Heads to Deepwater Gulf Home
Monday, March 16, 2015 Chevron's Big Foot platform is en route to its offshore home in the Walker Ridge area of the Gulf of Mexico.
Statoil Orders Emergency Vessel for Mariner Field
Monday, March 09, 2015 Statoil places an order with Sentinel Marine for a new multi-role emergency vessel to serve its Mariner field.