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: Forusbeen 50
Box 8500
Stavanger, NO-4035
Norway
Contact: +47 51 99 00 00

www.statoil.com


Recent Articles

Statoil to Stop Using H225 Helicopter Variant Involved in Crash
Tuesday, December 06, 2016 Statoil will not resume using Airbus' Super Puma helicopters even if Norway's Civil Aviation Authority decides to lift the ban imposed after a fatal crash off Norway in April.
Statoil CEO Sees Oil Market Rebalancing Sooner, Price Heading Towards $60
Tuesday, December 06, 2016 The balance between demand and supply in the oil market will shift earlier than previously expected due to OPEC's output cuts, Statoil's chief executive says.
Mexico Oil Auction Succeeds in Drawing World's Biggest Drillers
Tuesday, December 06, 2016 Mexico's first competitive deepwater oil auction surpasses expectations as eight of the 10 blocks are awarded to some of the world's top oil firms.
Statoil Pledges to Slash CO2 Emissions by 2030
Tuesday, December 06, 2016 Statoil's CEO Eldar Saetre has vowed to cut the company's CO2 emissions across its Norwegian assets over the next 13 years.
Production Drilling Begins at Mariner Field in UK North Sea
Friday, December 02, 2016 Production drilling has started on the Mariner field in the UK North Sea, Statoil announced Friday.
PSA Launches Investigation Into Scarabeo 5 Fire
Thursday, November 24, 2016 The Petroleum Safety Authority Norway (PSA) launches an investigation into a fire which broke out in an engine room on the Scarabeo 5 drilling unit Nov. 22.
Statoil Acquires Petrobras' Operated Interest in BM-S-8 Offshore Brazil
Wednesday, November 23, 2016 Statoil acquires Petrobras' 66% operated interest in the BM-S-8 offshore license in Brazil's Santos basin.
Statoil: Saipem Rig Catches Fire Off Norway, No Injuries Reported
Tuesday, November 22, 2016 A fire broke out in an engine room on Saipem's Scarabeo 5 drilling rig in the Norwegian Sea.
Statoil: Fire Under Control at Saipem Rig Off Norway
Tuesday, November 22, 2016 A fire in an engine room on Saipem's Scarabeo 5 drilling rig is now under control, Statoil says.
Southern North Sea Special Interest Group Launched
Monday, November 21, 2016 A steering group of offshore companies has been appointed to work together to explore opportunities to maximize remaining gas reserves in the Southern North Sea (SNS).
OMV Says Wisting Arctic Discovery May Exceed 1B Barrels
Thursday, November 17, 2016 OMV's Wisting discovery in the Barents Sea could contain more than 1 billion barrels of oil equivalents, potentially making it the largest find in the Norwegian Arctic so far.
Statoil: Final Investment Decision On Tanzania LNG Plant Still 5 Years Away
Wednesday, November 16, 2016 The final investment decision on a Tanzania's $30 billion onshore LNG export terminal will not be made for at least five years.
Norway's Statoil Says To Close Down Its R&D Office In Beijing
Wednesday, November 09, 2016 Norway's Statoil has decided to close down its Beijing-based research and development department as part of ongoing cost cuts.
Statoil Awards Services Contracts for Trestakk Development
Friday, November 04, 2016 Statoil awards an EPCI contract to FMC Technologies and Technip Norge, and a topside contract to Aker Solutions, for deliveries to the Trestakk development.
Statoil Submits PDO for Trestakk Discovery
Tuesday, November 01, 2016 Statoil, on behalf of the license holders, has submitted a Plan for Development and Operation of the Trestakk discovery, offshore Norway, to the Norwegian minister for petroleum and energy, Tord Lien.
Statoil Says Sizeable Oil Finds In North Sea Still Possible
Tuesday, November 01, 2016 Norway's Statoil believes sizeable oil finds can still be made in the North Sea even though the area has been explored for decades, a senior company executive said on Tuesday.
European Oil, Gas Companies Looking to Cut Costs Further
Monday, October 31, 2016 European oil and gas firms Eni, Total and Statoil all revealed in their latest financial results that they are looking to cut costs due to the continued low oil price environment.
Statoil Temporarily Suspends Songa Enabler Rig
Monday, October 31, 2016 Statoil has decided to temporarily suspend the Songa Enabler mobile rig, which was originally scheduled for drilling on the Johan Castberg license.
Argentina's YPF Says To Study Offshore Drilling With Statoil
Friday, October 28, 2016 YPF says it signed a deal with Norway's Statoil to study potential offshore drilling sites off Argentina's Atlantic coast.
Statoil Misses 3Q Forecasts, Cuts CAPEX Again
Thursday, October 27, 2016 Statoil cut its 2016 capital expenditure plans again after missing third-quarter earnings forecasts hurt by lower-than-expected output and low oil prices.