The success of our business is closely related to the application of the advanced technological expertise that, for the most part, has been acquired through our exploration and production activities on the NCS.
Many major challenges have been addressed, including operating in the harsh weather and environmentally sensitive conditions of the Norwegian Sea, transporting oil and gas across the deep Norwegian trench, and draining complex petroleum reservoirs characterised by high pressures and high temperatures.
Much of this experience is increasingly being applied to StatoilHydro's international operations.
The renewable energy industry continues to grow, driven by ambitions to increase the contribution of sustainable energy to the total energy supply.
Despite the challenges associated with the current financial crisis, we believe that the new energy industry has gathered sufficient momentum in recent years for it to continue to be an important focus area for StatoilHydro.
Although energy production from renewables is still modest in most countries, wind power, solar energy and biofuels are developing into significant industries.
