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

Statoil, MEG Evacuate Oil Sands Staff On Alberta Fire Threat
Tuesday, May 26, 2015 MEG Energy says it was suspending operations at its 80,000 barrel per day Christina Lake oil sands project and evacuated non-essential staff as wildfires rage through northeastern Alberta.
Statoil Comes up Dry at 2 Norwegian Sea Wells
Friday, May 22, 2015 Statoil drills two dry wells in the Norwegian Sea.
Norwegian Oil Drillers Call in Mediator after Wage Talks Fail
Friday, May 22, 2015 Wage talks involving thousands of Norwegian offshore oil workers break down, raising the risk of a strike that could disrupt oil exploration and efforts to raise production.
Statoil Classifies Gudrun Leak as 'Serious'
Wednesday, May 20, 2015 Statoil announces that a condensate leak which occurred on the Gudrun platform in the North Sea recently was 'of the highest degree of seriousness'.
BP Plans to Sell Part of Its Stake in Australian Oil Venture
Tuesday, May 19, 2015 BP plans to sell part of its oil project off southern Australia, before an exploration campaign that's slated to start late next year at a cost of more than $800 million.
Azeri SOCAR Assumes Statoil's Pipeline Project Operating Rights
Friday, May 01, 2015 Statoil hands over its commercial operating rights over the gas-carrying South Caucasus Pipeline project to Azeri state energy firm SOCAR.
Shell, Statoil Delivered 'Solid' Performances in 1Q 2015
Thursday, April 30, 2015 Solid performances delivered by Shell and Statoil during the first quarter amid significantly lower energy prices.
Wintershall Makes Small Oil Find in Norwegian Sea
Tuesday, April 28, 2015 Germany's Wintershall makes a small oil discovery near Statoil's Kristin field in the Norwegian Sea.
Statoil Spuds Bister Well in Norwegian Sea
Tuesday, April 28, 2015 Statoil spuds the Bister exploration well in the Norwegian Sea, according to Faroe Petroleum.
Govt: Statoil Must Move Ahead with Snorre Field Expansion
Monday, April 27, 2015 Statoil must move ahead with the delayed upgrade of the Snorre oil and gas field in the North Sea, Norway's energy minister says.
Norway's Giant Sverdrup Oil Field Could Face Delay, Cost Overrun
Friday, April 24, 2015 The start of Norway's 2.3 billion barrel Johan Sverdrup oil field may be delayed and costs could exceed forecasts but the project could break even at about half of the current oil price, authorities say.
Betting on Oil Price Recovery, Statoil Snips Where Rivals Slash
Thursday, April 23, 2015 Statoil cuts investments less than any other oil major this year, positioning for a crude price recovery.
IHS CERAWeek: Statoil Won't Add North American Drilling Rigs This Year
Wednesday, April 22, 2015 Statoil has no plans to add North American drilling rigs this year, an executive tells Reuters.
European Majors Team Up to Explore Arctic
Tuesday, April 21, 2015 Statoil and Eni form BaSEC (Barents Sea Exploration Collaboration) to solve operational issues connected to exploring the Barents Sea for hydrocarbons.
Norway Considers Support For Statoil Project
Tuesday, April 21, 2015 Norway will ask European competition authorities whether it can provide state support to Statoil to bring oil and gas to the shore from its Johan Castberg field.
Statoil CEO: Cost, Carbon Emissions 'Formidable Challenges' for Industry
Tuesday, April 21, 2015 The industry faces challenges in improving its competitiveness while managing the transition to a lower carbon future, Statoil President and CEO Eldar Saetre tells IHS CERAWeek attendees.
Norway's Minister of Petroleum Opens Valemon Field
Friday, April 17, 2015 Norway's Valemon field is officially opened.
Statoil Board Member Resigns to Avoid Conflict of Interest
Wednesday, April 15, 2015 Catherine Hughes resigns from Statoil's board to avoid potential conflict of interest after "a recent change of circumstances".
Statoil Makes Gas Find Near Aasta Hansteen Field
Monday, April 13, 2015 Statoil makes another gas find near its Aasta Hansteen field in the Norwegian Arctic, further raising the gas resource in one of its biggest ongoing projects.
Statoil Strikes Oil at Yeti Prospect in Gulf of Mexico
Thursday, April 09, 2015 Statoil makes an oil discovery in its Miocene Yeti prospect located in the Gulf of Mexico.