Statoil’s vision stands in “Crossing Energy Frontiers”
Founded in as the Norwegian State Oil company in 1972, Statoil got listed on the Oslo and New York stock exchanges in 2001.
In October 2007, Statoil merged with Hydro’s oil and gas division.
The Norwegian state holds 67% of Statoil shares through the Ministry of Petroleum and Energy (MPE).
The choice of the oil and gas fields to be developed as well as the technologies selected to proceed are therefore the results of the combined interest of the operator and the long term vision of the Norwegian State representative.
In addition to its strategic and monitoring role on Statoil, Petoro may hold shares in the projects beside Statoil in joint venture with third parties.
Compared with other international oil companies (IOCs), this context leads Statoil to put more gravity to the long term development and to focus on the oil and gas fields in respect with technology development required to optimize all the phases from exploration to production and enhancement programs.
More than an oil and gas companies, Statoil sets itself as an international technology-based energy company with a focus on upstream oil and gas operations.
With projects breaking records in deep offshore or in the Arctic region, Statoil’s vision stands on “Crossing Energy Frontiers”.
Statoil is organized in seven business areas:
– Development and Production in Norway (DPN)
– Development and Production International (DPI)
– Development and production North America
– Marketing, Processing and Renewable Energies
– Technology, Projects and Drilling
– Global Strategy and Business Development
With 21,000 employees, Statoil is the world largest operator in deepwater, the second largest exporter of gas to Europe and one of the world largest net sellers of crude oil.
Statoil Key Figures
– 2010 Revenues: $94,5 billion
– 2009 Revenues: $82,9 billion
– 2011 Earnings: $14 billion
– 2010 Earnings: $6,7 billion
– 2009 Earnings: $3,1 billion
– 2011 Capital Expenditure: $15,8 billion
– 2010 Capital Expenditure: $13,6 billion
– 2009 Capital Expenditure: $13,3 billion
Statoil Projects and Business Highlights
– Revitalising the Norwegian Continental Shelf with projects like Johan Sverdrup, Skrugard, Luva and Dagny
– Building offshore materials business clusters, such as in Gulf of Mexico, Brazil pre-salt, Angola pre-salt, Azerbaijan with projects like Peregrino 2
– Developing into a leading exploration company in Arctic areas, Tanzania, and Indonesia
– Stepping up activities in unconventional resources to reach 12% of Statoil production in 2020 with projects such as Canada Kai Kos and Deh Seh oil sands, Marcellus, Eagle Ford and Bakken shale gas.
– Creating value from superior gas position with exploration in Algeria and the Caspian Sea and LNG options
– Opening new renewable energy opportunities with projects in offshore winds such as the Hywind floating offshore windmill concept and with the carbon capture and sequestration (CCS) such as in Sleipner, In Salah, and Snovhit.
Statoil leads the world on average recovery rate with 50% in 2011 and is setting a new goal in targeting 60% recovery rate.