Statoil is an integrated, technology-based international energy company primarily focused on upstream oil and gas operations. We are committed to meeting the world's energy needs in a responsible manner, applying technology and creating innovative solutions.
We are a company built on our Norwegian heritage and pioneering spirit, and have developed the Norwegian continental shelf (NCS) to become one of the world's leading petroleum regions. We are also the world's largest offshore operator, the second-largest gas exporter to Europe, and a world leader in carbon capture storage and carbon efficiency in oil and gas production. While seeking to satisfy growing energy demand we have to minimise the impact on our environment.
This is the reality we face, and it is the challenge we're taking on. For us, how we deliver is equally important as the results we achieve. Safety is paramount to us, and we believe that all accidents can be prevented.
We were founded as The Norwegian State Oil Company (Statoil) in 1972, and became listed on the Oslo and New York stock exchanges in June 2001. Statoil merged with Hydro's oil and gas division in October 2007.
The Norwegian State holds 67% of our shares through the Ministry of Petroleum and Energy, US investors hold 9.4%, private Norwegian owners hold 9.0%, UK investors hold 5.2%, and other European investors 7.48%, others 1.6%.
Our dividend policy
It is our ambition to grow the annual cash dividend, in line with long-term underlying earnings. For 2012, the dividend proposed is NOK 6.75 per share, subject to approval by the Annual General Meeting on May 14, 2013.
Our business areas
We have seven business areas:
- Development and Production Norway
- Development and Production International
- Development and Production North America
- Marketing, Processing and Renewable Energy
- Technology, Projects and Drilling
- Global Strategy and Business Development
We aim to grow and enhance value through our technology-focused upstream strategy, strategic midstream and downstream positioning, and renewable energy and low-carbon technologies. We intend to achieve this by revitalising the Norwegian continental shelf, creating value from a superior gas position, building material positions in new offshore clusters, developing a leading position as a global exploration company, applying technology to expand in unconventionals, and continuing to actively manage our portfolio.
Our values are
- Our current asset portfolio has the potential to deliver 2.5 million barrels of oil equivalent (mmboe) per day in 2020
- We expect equity production to grow by approximately 23% compound annual growth rate (CAGR) from 20122016.
- We are continuing with our successful exploration strategy. We expect to drill around 50 exploration wells in 2013 with expenditures of around USD 3.5 billion, and plan to drill around 20 high-impact exploration wells from 20132015.
- Organic capital expenditures in 2013 (i.e. excluding acquisitions and capital leases) are expected to be around USD 19 billion