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

Norway Has No Plan To Cut Statoil Stake
Wednesday, February 22, 2017 The Norwegian government does not plan to cut its stake in Statoil, oil and energy Minister Terje Soeviknes says.
NPD Grants Consent for the Expansion of Nyhamna Gas Plant
Friday, February 10, 2017 The Norwegian Petroleum Directorate grants consent for the expansion of the gas plant at Nyhamna, which will allow the Ormen Lange field in the Norwegian Sea to increase production.
Statoil Targets Cost Savings of $1B in 2017
Tuesday, February 07, 2017 Statoil ASA is targeting cost savings of $1 billion in 2017, which comes in addition to the $3.2 billion it has already cut as part of its improvement program.
Statoil's Exploration Chief Sees More Drilling Offshore US, Russia
Tuesday, February 07, 2017 Statoil will probably continue its exploration work offshore the US, despite an unsuccessful campaign so far, and also expects more drilling in Russia, the company's exploration chief says.
Statoil Makes Gas Discovery Within North Sea Valemon Field
Friday, February 03, 2017 Statoil makes a new gas discovery on the Valemon field, called Valemon West, 2 years after the asset came on stream.
Statoil Completes Sale of Entire Oil Sands Operations in Alberta, Canada
Wednesday, February 01, 2017 Statoil completes the sale of its entire oil sands operations in the Canadian province of Alberta to Athabasca Oil Corporation.
Statoil Gets Consent to Use Songa Encourage for Well Activities Off Norway
Friday, January 27, 2017 Statoil receives consent from Petroleum Safety Authority Norway to use the Songa Encourage mobile drilling facility to perform well activities on the Norne and Alve fields, located offshore Norway.
Norway Court To Hear Appeal In $1.8B Gas Transport Tariff Row
Friday, January 27, 2017 A Norwegian court will hear an appeal next week by 4 firms seeking to overturn a ruling that upheld a government decision to cut offshore gas transportation tariffs.
Statoil Says Mistakes, Lack Of Maintenance Led To Troll, Mongstad Accidents
Friday, January 20, 2017 Accidents at Statoil's giant Troll gas field and the Mongstad refinery in October last year were caused by operational mistakes and wrong prioritisation of maintenance.
Big Oil Back On The Acquisition Trail As Outlook Brightens
Thursday, January 19, 2017 The world's top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves.
Oil, Gas Firms Make Global 100 Most Sustainable Corporations List
Thursday, January 19, 2017 Ten oil and gas related companies have made Corporate Knights' 2017 Global 100 Most Sustainable Corporations list.
Eni: Oil, Gas Discovery in Norwegian Sea
Tuesday, January 17, 2017 Eni announces that a new oil and gas discovery has been made within the PL128/128D licenses in the Norwegian Sea.
Utgard, Byrding Field Development Plans Approved
Tuesday, January 17, 2017 The plan for development and operation for the Utgard and Byrding fields in the North Sea has been approved by the authorities.
Norway Awards 56 Oil And Gas Licences In Mature Areas
Tuesday, January 17, 2017 Norway's oil ministry awarded 56 offshore exploration licences on Tuesday in a bid to lift output from acreage located near existing oil and gas fields.
Statoil May Stop Drilling In US Gulf Of Mexico
Friday, January 06, 2017 Statoil is considering whether to end its costly search for oil and gas in the U.S. Gulf of Mexico.
Statoil to Drill Around 30 Exploration Wells in 2017
Wednesday, January 04, 2017 Statoil announces that it plans to drill around 30 exploration wells in 2017, an increase of around 30% compared to last year.
Statoil Increases Byrding Project Interest
Tuesday, January 03, 2017 Statoil announced Tuesday that it has completed a transaction to acquire a 24% interest in the Byrding project, located on the Norwegian Continental Shelf, from Wintershall Norge.
Statoil Granted Consent to Drill Mim Prospect
Wednesday, December 28, 2016 Statoil has been granted consent to drill exploration well 6507/3-12 in the Norwegian Sea, in a prospect named Mim.
SOCAR, AIOC Agree to Develop ACG Field
Friday, December 23, 2016 SOCAR and AIOC sign a letter of intent for the future development of the Azeri-Chirag-Gunashli (ACG) field, in the Azerbaijan sector of the Caspian Sea.
Gullfaks Field Hits 2.6 Billion Barrel Mark
Thursday, December 22, 2016 Statoil revealed Thursday that the Gullfaks field offshore Norway has produced 2.6 billion barrels of oil have since production started on December 22, 1986.