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statoil

Statoil´s largest activities are located in Norway. We are headquartered in Stavanger with corporate functions in both Stavanger and Oslo. We are the largest operator on the Norwegian continental shelf, and a licence holder in numerous oil and gas fields. Our onshore facilities in Norway are active within such areas as gas treatment, crude oil reception, refinement and methanol production. Climate change and a growing demand for clean energy are opening up new business opportunities. Statoil is in a position to seize these opportunities by utilising long-standing core capabilities from the Oil & Gas industry.

Statoil ASA, trading as Statoil and formerly known as StatoilHydro, is a Norwegian oil and gas company, formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro. The Government of Norway is the largest shareholder in Statoil with 67% of the shares. The ownership interest is managed by the Norwegian Ministry of Petroleum and Energy. Statoil is a fully integrated petroleum company with operations in thirty-six countries. By revenue, Statoil was ranked by Fortune Magazine as the world´s thirteenth largest oil and gas company in 2010, and the largest company in the Nordic region by revenue, profit, and market capitalization.

Statoil is the largest operator on the Norwegian continental shelf, with 60% of the total production. The fields operated are Brage, Heimdal, Grane, Glitne, Gullfaks, Heidrun, Huldra, Kristin, Kvitebjørn, Mikkel, Njord, Norne, Ormen Lange, Oseberg, Sleipner, Snorre, Snøhvit, Statfjord, Sygna, Tordis, Troll, Veslefrikk, Vigdis, Visund, Volve and Åsgard. The company also has processing plants at Kollsnes, Kårstø, Mongstad, Tjeldbergodden and Melkøya.

In addition to the Norwegian continental shelf, Statoil operates oil and gas fields in Algeria, Angola, Azerbaijan, Brazil, Canada, China, Libya, Nigeria, Russia, United States and Venezuela. Statoil has offices that are looking for possible ventures in the countries of Mexico, Qatar and the United Arab Emirates. The company has processing plants in Belgium, Denmark, France and Germany. In 2006, Statoil was approved to implement the world´s largest carbon sequestration project as a means to mitigate carbon emissions to the atmosphere.

Den Norske Stats Oljeselskap A/S was founded as a private limited company owned by the Government of Norway on July 14, 1972 by a unanimous act passed by the Norwegian parliament Stortinget. The political motivation was Norwegian participation in the oil industry on the continental shelf and to build up Norwegian competency within the petroleum industry to establish the foundations of a domestic petroleum industry. Statoil was required to discuss important issues with the Minister of Industry, later Minister of Petroleum and Energy. Statoil was also required to submit an annual report to the parliament.

In 1973 the company started work acquiring a presence in the petrochemical industry. This resulted in the development of processing plants in Rafsnes and, in partnership with Norsk Hydro, the Mongstad plant in 1980. In 1981 the company acquired, as the first Norwegian company, operator rights on the Norwegian continental shelf on the Gullfaks field. 1987-88 saw the largest scandal in the companies history, the Mongstad scandal that made the until then unassailable CEO Arve Johnsen withdraw.

In the 1980s Statoil decided to become a fully integrated petroleum company and started building the Statoil fuel station brand. The stations in Norway originated as Norol stations while the stations in Denmark and Sweden were purchased from Esso in 1985, while the stations in Ireland were purchased from British Petroleum in 1992 and ConocoPhilips Jet in the mid "90s, then sold by Statoil to Topaz Oil in 2006. Statoil also built up a network of stations in part of Eastern Europe in the 1990s.

The company was privatised and made a public limited company (allmennaksjeselskap) in 2001, becoming listed on the both the Oslo Stock Exchange and the New York Stock Exchange. At the same time it changed its name to Statoil ASA. The government still retained a majority ownership in the company. In 2007 Statoil bought a large area in the Athabasca oil sand field in Canada after purchasing North American Oil Sands Corporation. (In 2012, Statoil had 4 oil sand licences (oljesandlisensene ) as part of the Kai Kos Deh Seh project: Leismer, Corner, Hangingstone and Thornberry.)

More info about Statoil at Wikipedia.


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