Our success in Nigeria has been possible due to our commitment to creating lasting value and sustainable development, as well as building local capacity in the country. We believe there is no inherent conflict between industry profit and inclusive growth that is sustainable and beneficial to society. Akassa is a good example where, through participatory development, this commitment is demonstrated in practice.
Akassa Development Foundation
Statoil has supported community development project in Akassa in the Niger Delta region, which draws on substantial local involvement and participation in both the planning and execution of the project.
The project supports the following five activities that are deemed to be essential to underpinning our licence to operate in the area and the broader region: poverty reduction, building local capacity, the environment, infrastructure and institutional capacity development.
Statoil Nigeria has received considerable praise for its support of the project. In 2005, we received the World Petroleum Congress's Excellence Award in the Social Responsibility category and in 2006, we received the CWC Exellence Award for Sustainable Development.