Technology strategy
StatoilHydro's strategy is to maximise value as an upstream-oriented, technology-based energy company. The objectives of the corporate technology strategy are to: (i) identify those technologies that will help the company to develop as a profitable, performance-driven, internationally competitive organisation; and (ii) guide its future growth in certain areas that can lead to substantial technology differentiation.
The strategy is therefore focused on generating long-term business value through leading technology application. Its realisation will require the combined efforts of our technical staff to increase the value of existing business, secure and develop platforms for further growth and operate in new and more challenging environments. The strategy is upstream-motivated, although some weight is placed on energy diversification. Operational excellence and industry-leading HSE performance underpin all our activities.
The corporate technology strategy is driven by the central business challenges and aims to build even stronger industry positions. Technology is a key enabler in relation to achieving this, and it will make significant contributions to field development in frontier deep waters (for example, the Gulf of Mexico and Brazil) and Arctic areas, heavy oil production, subsalt exploration, and environmental and climate issues. The ambition is to achieve distinctiveness and industry leadership in selected technologies and to stay competitive in a broad range of core and emerging technologies along the energy provision value chain, such as offshore wind and sustainable biofuels.
Furthermore, IOR and improved drilling and well solutions are important if we are to successfully grow our business. StatoilHydro has achieved some of the petroleum industry's highest recovery factors on the NCS by combining scientific and engineering capabilities and boldly introducing new technology. We intend to further advance the most important technologies to meet forthcoming improved oil recovery (IOR) ambitions on the NCS and internationally. Drilling and well technology plays a key role in increasing production and ensuring regular delivery, and through its application we intend to achieve faster operations, reduced downtime, and improved well flow while improving safety during operations. Supplier cooperation and venture activities will remain important. We are also reviewing our intellectual property rights policy and clarifying our policy on technology acquisition in terms of proprietary development and cooperation as opposed to off-the-shelf purchasing.
Although the selected technologies are dealt with separately, it is important to note that leading industrial solutions depend on their successful combination.
New Energy
To StatoilHydro, climate change is both a challenge and a business opportunity. Our focus is on building a business with substantial value creation in the short and long term, with particular emphasis on offshore wind, sustainable biofuels and CO2 management. However, with the new energy industry still in an early phase of development, it is difficult to "pick all the winners" of the future, so we are developing additional options in selected areas. We also believe that our involvement has the potential to add value to certain oil and gas activities in the company, particularly in CO2 management.
