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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

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.
Norway's Statoil Extends Rig Suspensions As Margins Squeezed
Friday, December 05, 2014 Statoil extends its suspension of three drilling rigs due to a lack of appropriate exploration prospects.
Gas Discovery at Ivory Well Inconclusive
Tuesday, December 02, 2014 Rocksource reports that its Ivory exploration well in the Norwegian Sea has discovered a gas accumulation but that it is not possible to determine if the discovery is commercial.
Chevron Turns On Taps at Jack/St. Malo in GOM
Tuesday, December 02, 2014 Chevron announces that crude oil and natural gas production has begun at the Jack/St. Malo project in the Lower Tertiary trend, deepwater US Gulf of Mexico.
BG Group Revises Lund's Remuneration Package
Monday, December 01, 2014 In response to shareholder concerns about excessive remuneration, BG Group revised Helge Lund's package.
Statoil Could Pay High Cost for Response to Exploration Failure
Monday, December 01, 2014 Industry insiders say that Statoil may be jeopardising future production with its fast and deep cost cutting.
Wintershall Pays $1.25B for Stakes in Norwegian Oil, Gas Fields
Monday, December 01, 2014 Wintershall buys stakes in several Norwegian oil and gas fields from Statoil for $1.25 billion.
Statoil Picked to Operate Johan Sverdrup Field
Friday, November 28, 2014 Statoil will operate the giant Johan Sverdrup oilfield in the Norwegian sector of the North Sea.
Odjfell Revenues, Profits Decline during 3Q
Wednesday, November 26, 2014 Norway's Odfjell sees its revenues and profits fall amid a continued softening of demand for oilfield services.
Statoil To Keep Up Exploration Spending Despite Falling Oil Prices
Wednesday, November 19, 2014 Statoil will keep exploration drilling high in 2015 and plans to approve a new project this year, even as oil prices trade at 4-year lows, Ivar Aasheim says.
Statoil Changes Staff Pension Scheme
Tuesday, November 18, 2014 Norway's Statoil shifts from a defined benefit pension scheme to one that is based on defined contributions.
Statoil in Test Case for Industry as Canada Extends Seabed Territories
Sunday, November 16, 2014 Statoil is risking millions of dollars in extra costs in Canada, where the country is using United Nations laws to define new limits to its seabed territory.
Statoil to Withdraw from Permits EP127, EP128 in NT's Georgina Basin
Friday, November 14, 2014 Statoil decides to withdraw from permits EP127 and EP128 in the Georgina Basin, Northern Territory, Australia after disappointing drilling results.
NPD: Norway's Ormen Lange Appraisal Well Does Not Change Resource Estimate
Friday, November 14, 2014 Shell drilled an appraisal well on its Ormen Lange gas field in Norway and though it hit a large gas column, there is no basis to change the recoverable resource estimate, the Norwegian Petroleum Directorate says.
Statoil Comes up Dry in the Barents Sea
Friday, November 07, 2014 Statoil's wildcat well 7227/10-1 comes up dry after targeting Triassic reservoir rocks.