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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

Wintershall Completes Takeover of Vega Field in the North Sea
Wednesday, March 04, 2015 Germany's Wintershall completes the takeover from Statoil of the operatorship of the Vega subsea oil and gas field offshore Norway.
Statoil Awards Mariner Supply Contracts to Asco UK
Thursday, February 26, 2015 Norway's Statoil awards the supply base and warehousing contracts for the Mariner field development to Asco UK.
Odfjell Wins Drilling Engineering Contract for Johan Sverdrup
Wednesday, February 25, 2015 Norway's Odfjell Drilling wins the drilling engineering subcontract for the Johan Sverdrup field's drilling platform topside.
North Sea's Valemon Platform Successfully Hooked Up
Tuesday, February 24, 2015 Wood Group Mustang Norway reports the successful hook-up of Statoil's Valemon platform in the Norwegian North Sea.
Aibel Wins $1B Johan Sverdrup Deck Construction Contract
Tuesday, February 24, 2015 Statoil awards Aibel the $1-billion contract to build the deck for the Johan Sverdrup field's drilling platform.
Statoil Starts Up Oseberg Delta 2 Field, On Time, Under Budget
Monday, February 23, 2015 Norway's Statoil starts up production at its Oseberg Delta 2 development in the North Sea.
Dodson: Statoil Plans 5-6 Wells In Current Canada Exploration
Thursday, February 19, 2015 Statoil will drill five to six exploration wells in Canada during its current 15 month campaign, exploration chief Tim Dodson says.
Keppel FELS Holds Naming Ceremony for Newbuild Jackup Maersk Integrator
Monday, February 16, 2015 Keppel FELS holds naming ceremony for Maersk Integrator, with the newbuild jackup chartered to Statoil for development drilling in Gina Krog field offshore Norway.
Statoil Gives Go-Ahead For $29B Oil Project
Friday, February 13, 2015 Statoil will move ahead with plans to develop the $29-billion Johan Sverdrup oilfield which is expected to produce oil that will be profitable even after the recent price crash.
Statoil Makes Minor Oil Discovery in North Sea
Friday, February 13, 2015 Statoil makes an oil discovery of up to 13 million barrels near the Ekofisk in the Norwegian North Sea.
Lund Begins Tenure as BG Group CEO
Monday, February 09, 2015 Lund begins his new role as CEO of BG Group three weeks ahead of schedule.
Statoil Cuts Capital Spending by 10%
Friday, February 06, 2015 Statoil responds to weak oil prices by reducing its capex for 2015 by 10%, but analysts believe the firm may still be being overly optimistic about the outlook.
Statoil Confirms Eldar Saetre as its New CEO
Wednesday, February 04, 2015 Statoil's acting CEO Eldar Saetra is confirmed as the company's boss.
Natural Gas 'Key' to Shifting to a Low-Carbon Future
Tuesday, February 03, 2015 Natural gas will play a key role in transitioning the world to a low-carbon energy future, delegates are told at the GE Oil & Gas Annual Meeting.
Norway's Statoil Will Not Drill In Arctic Barents Sea This Year
Friday, January 30, 2015 Statoil will not drill exploration wells in the Arctic Barents Sea this year after a failed campaign in 2014, says exploration chief Tim Dodson.
Faroe, Lundin, Cairn Score Norway License Wins
Wednesday, January 21, 2015 Faroe Petroleum and Lundin Petroleum issue details of licenses they have secured in Norway's latest offshore licensing round.
Oil Services Firm Kvaerner Finalizes $262M Statoil Contract
Tuesday, January 20, 2015 Norway's Kvaerner finalizes a $262-million platform contract with Statoil.
Norway Oil Spending, Output to Fall on Low Crude Prices
Thursday, January 15, 2015 Norwegian energy investments are set to tumble this year, exacerbating a drop in oil production.
Statoil Hands Back 3 Greenland Exploration Licenses
Wednesday, January 14, 2015 Statoil hands back three of its four Greenland offshore oil and gas exploration licenses in another sign of cost cutting by energy firms amid the plunge in oil prices.
Statoil To Shut Oil Production At Aasgard Field Due To Storm
Monday, January 12, 2015 Statoil will shut oil production at the Aasgard field in the Norwegian Sea due to an impending storm, and will reduce the number of workers at the Kristin platform, a spokesman says.