Statoil has grown up along with the emergence of the Norwegian oil and gas industry, dating back to the late 1960s. Today, the company is one of the world's largest suppliers of oil and gas.
In 1972, the Norwegian State Oil Company, Statoil, was formed, and two years later the Statfjord field was discovered in the North Sea. In 1979, the Statfjord field commenced production, and in 1981 Statoil was the first Norwegian company to be given operator responsibility for a field, at Gullfaks in the North Sea.
Statoil merged with Norsk Hydro’s oil and gas division on 1 October 2007. The new company was given the temporary name of StatoilHydro, and the new company reached a size and strength for considerable international expansion. The company changed its name back to Statoil on 1 November 2009.
Norsk Hydro’s oil history stretches back to the late 1960’s, when the company was a license holder in the giant Ekofisk discovery in the North Sea in 1969.
Statoil has been one of the most important players in the Norwegian oil industry, and has contributed strongly to make Norway into a modern industrial nation. Today, Norway is one of the world's most productive petroleum provinces and a test lab for technology development.