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 Improve Helicopter Safety Following Fatal Crash
Friday, September 23, 2016 Statoil has vowed to improve helicopter safety following the release of an investigation into a fatal helicopter crash which occurred on the NCS earlier this year.
Statoil Deals With Aasgard B Platform Fire Within Minutes
Monday, September 19, 2016 A small fire which occurred on the Aasgard B platform offshore Norway on Sunday was quickly dealt with, a Statoil representative told Rigzone.
Crude Glut Belies Risk From OPEC's Dwindling Output Cushion
Friday, September 16, 2016 As most of the world focuses on how unfettered oil production will weigh on prices, a few say a rebound is on the cards as the market starts to reflect a growing risk of shortages.
Aker Lands Troll B Work
Friday, September 16, 2016 Aker Solutions secures a contract from Statoil to deliver a compression module for the Troll field in the North Sea, which will help boost output at the offshore Norwegian field.
Johan Castberg Project Will Have Strong Ripple Effects
Tuesday, September 13, 2016 The Johan Castberg project will be important to Norwegian Industry and will have strong ripple effects, according to a proposed impact assessment program distributed by Statoil Tuesday.
Aker Solutions Secures Utgard Tie-in Work
Thursday, September 08, 2016 Aker Solutions secures a services contract for the tie-in of the Utgard gas and condensate field to the Statoil-operated Sleipner facilities in the North Sea.
Statoil: Brazil Oil Law Change Key To Attracting Investment
Thursday, September 08, 2016 Statoil sees changes to Brazil's oil industry laws as key for attracting foreign investment, Chief Executive Officer Eldar Saetre says.
Statoil Increases NCS Equity Through Tullow Deals
Wednesday, September 07, 2016 Statoil agrees terms with Tullow Norge AS to increase its equity in four licenses on the Norwegian continental shelf (NCS), including the Wisting discovery in the Barents Sea.
CEO: Petrobras To Gain $11B On Sale Of Brazil Oil Rights To Statoil
Tuesday, August 30, 2016 The sale of a stake in Carcara to Statoil will gain Petrobras as much as $11 billion to pay debt or invest in other projects.
Statoil To Drill Norway's Northernmost Oil Well Next Year
Tuesday, August 30, 2016 Statoil will drill Norway's northernmost oil well next year in the Barents Sea, where it believes a significant oil discovery can be made.
Statoil Cuts 250 Jobs, Mostly in HSE
Tuesday, August 30, 2016 Statoil details to Rigzone the most recent job cuts will come mainly from HSE areas of the company.
Statoil Slashes Cost Of Major Norway Field, Lifts Output Plan
Monday, August 29, 2016 Statoil says it cut development costs by about 20% for the first stage of its giant Johan Sverdrup oil field, while sharply raising the expected output.
NCS Investment Shrinks on Project Delays, Cancellations
Monday, August 29, 2016 Operators seeking to cut costs defer or cancel $50 billion in oil and gas project investment on the Norwegian Continental Shelf, Wood Mackenzie finds.
Oil M&A Is Back as Industry Shifts From Survival to Growth
Friday, August 26, 2016 Multibillion-dollar oil and gas deals are back on the table.
Njord A Platform Arrives at Kvaerner Stord for Renovation Works
Friday, August 26, 2016 The Njord A platform has now arrived at Kvaerner Stord, where it will be reinforced and renovated for production beyond 2030.
NPD Grants Statoil Lifetime Extension for Gullfaks B
Thursday, August 25, 2016 The NPD grants Statoil permission to use the B platform on the Gullfaks field in the North Sea until January 1, 2036, which corresponds to the length of the production license.
Statoil Starts Production From Fram C East Well
Thursday, August 25, 2016 Production begins from the Fram C East production well offshore Norway.
Sound Energy Appoints Ex-BG Exploration Lead
Wednesday, August 24, 2016 Sound Energy plc appoints Brian Mitchener as the company's executive vice president of exploration.
Canada May Ask Oil Firms to Pay Extra for Far-Offshore Drilling
Wednesday, August 24, 2016 Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore, according to an internal government memo.
Statoil to Buy P.2170 License Stake in Quest to Become Active UKCS Explorer
Tuesday, August 23, 2016 Statoil signs an agreement with Jersey Oil and Gas plc and CIECO Exploration and Production (UK) Limited to acquire a 70% ownership and operatorship of the P.2170 license on the UKCS.