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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

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.
Statoil Suspends 2 New Rigs Due to Overcapacity
Thursday, November 06, 2014 Statoil says it is suspending the Transocean Spitsbergen and the Songa Trym through the rest of 2014 due to overcapacity in its rig portfolio.
Statoil Puts $32.5B Price Tag On Giant Sverdrup Oil Field
Monday, November 03, 2014 Statoil's Johan Sverdrup field offshore Norway could cost up to $32.5 billion to develop, the company says.
European Oil Firms Suffer Decade of Disruptions to Succession Plans
Sunday, November 02, 2014 Recent changes in command at Total, Statoil and BG Group are just the latest disruption in the continuity of management at Europe's oil majors.
Hess To Proceed With $6B US Oil Project Despite Price Dip
Wednesday, October 29, 2014 Hess says it would proceed with the development of the $6B Stampede project in the US Gulf of Mexico, one of the biggest energy investments announced during the current oil price slump.
Statoil Takes Reins at Offshore AU Permit
Friday, October 24, 2014 Statoil continues to expand in Australia, with the award of 100% equity share in a large exploration permit located in the prolific Northern Carnarvon Basin on the Northwest shelf of Australia.
Statoil Finds up to 80M Barrels of Oil near Grane Field
Tuesday, October 21, 2014 Statoil says it has proved new oil resources of up to 80 million barrels of recoverable oil in the Norwegian North Sea near the Grane field.
Statoil's CEO Quits For Top Job At BG Group
Wednesday, October 15, 2014 Statoil Chief Executive Helge Lund unexpectedly resigned to take the top job at smaller rival BG Group, the firms say in separate statements.
Statoil Finds More Gas Offshore Tanzania
Tuesday, October 14, 2014 Norway's Statoil finds more gas offshore Tanzania, increasing its total for a final investment decision on a liquefaction plant with the UK's BG Group.
Statoil Completes Testing Operations at OzDelta-1 Well in Australia's NT
Monday, October 13, 2014 Statoil completes testing operations at OzDelta-1 well in Australia's Northern Territory.
Statoil Exits Shah Deniz Gas Project With Stake Sale To Petronas
Monday, October 13, 2014 Statoil sells 15.5% stake in the Shah Deniz project in Azerbaijan to Petronas for $2.25 billion.
Norway's Statoil Makes Small Gas Find in Arctic
Friday, October 10, 2014 Statoil makes a small gas discovery in the Arctic near its Johan Castberg oil discovery.
Paper: Statoil Plans to Cut Another 500 Jobs
Friday, October 03, 2014 Statoil plans to lay off an additional 500 workers on top of already announced plans to eliminate up to 1,400 positions, financial daily Dagens Naeringsliv says.
Statoil Makes Uncommercial Gas Find In Arctic
Friday, September 26, 2014 Statoil makes a disappointing gas find in the Arctic, continuing an unsuccessful run of exploration drilling in the Norwegian part of the region.
Statoil Halts Aasgard A Production Due To Bad Weather
Thursday, September 25, 2014 Statoil shuts production at its Aasgard A field in the Norwegian Sea due to bad weather and expects production to resume shortly, spokesman Morten Eek says.