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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

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.
Statoil To Extend Lifetime Of Norne Field To 2030 From 2014
Friday, January 09, 2015 Norway' Statoil plans to extend operations at its Norne oil and gas field to 2030.
NPD Processes Rutil Development Plan
Friday, January 09, 2015 The Norwegian Petroleum Directorate processes the plan for the development of the Rutil discovery in the Gullfaks Rimfaksdalen area of the North Sea.
Statoil Evacuates Some North Sea Platform Workers Ahead Of Storm
Friday, January 09, 2015 Statoil is moving some workers off seven North Sea platforms in anticipation of a weekend storm, but production should not be affect, a spokesman says.
Statoil CEO Sticks to Dividend Policy despite Low Oil Prices
Thursday, January 08, 2015 Statoil will continue to make dividend payments a top priority even though oil prices have fallen more steeply than expected, says Statoil's acting CEO.
Statoil Awards NOK 5 Billion Supply Base Contracts
Wednesday, January 07, 2015 Norway's Statoil awards $640 million of contracts to suppliers.
Statoil Starts Up New Valemon Gas, Condensate Field in North Sea
Saturday, January 03, 2015 Norway's Statoil starts up the North Sea's Valemon gas and condensate field, expecting to recover up to 192 million barrels of oil equivalent over the field's lifetime.
Statoil to Reduce Stake in U.S. Shale Formation, Realizes $394M
Tuesday, December 23, 2014 Statoil agrees to reduce its working interest in the non-operated Marcellus shale formation in the US following a $394-million deal with Southwestern Energy.
Statoil Makes Small Oil Discovery near Oseberg South
Monday, December 22, 2014 Statoil discovers up to 19 million barrels near the Oseberg South field in the Norwegian North Sea.
Schlumberger Awarded Contract for Mariner Field
Friday, December 19, 2014 Statoil has on behalf of the Mariner co-venturers awarded the contract for integrated drilling and well services on the Mariner field on the UKCS to Schlumberger Oilfield UK.
Norway's Statoil Approves $610M North Sea Development
Tuesday, December 16, 2014 Statoil will spend $610 million to develop its small Gullfaks Rimfaksdalen gas and condensate field in the North Sea, going ahead with the project despite low oil prices.
Aker Wins Mariner Hook-Up Engineering Contract
Monday, December 15, 2014 Aker Solutions wins $188 million award from DSME to provide engineering services for the hook-up phase of the North Sea's Mariner oilfield development.
Chevron, Statoil, ONGC Secure Exploration Permits in NZ's Block Offer 2014
Tuesday, December 09, 2014 New Zealand awards 15 exploration permits as part of Block Offer 2014 to nine companies, including Chevron, Statoil and ONGC Videsh.
Statoil Shuts LNG Plant Due to a Leak, Duration Unknown
Monday, December 08, 2014 Statoil shuts Europe's only plant producing liquefied natural gas for an indefinite period due to a gas leak.
More Than $150B Of Oil Projects Face The Axe In 2015
Friday, December 05, 2014 Global exploration projects worth more than $150B are likely to be put on hold next year as plunging oil prices render them uneconomic, data shows, potentially curbing supplies by the end of the decade.