Commercialising technologies in oil and energy

Statoil Technology Invest (STI) has been established to support small and medium enterprises (SMEs) with exciting new technologies in oil and energy—and in turn, helping Statoil be the world’s most carbon-efficient oil and gas producer with a developing renewable business.

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Track record

Building on a proven venture track record, we will provide expert technical and financial guidance as well as venture capital or project-based funding. Statoil Technology Invest (STI) is looking for technologies in upstream oil and gas. 

Our focus areas are exploration, reservoir, drilling and well, production, facilities and solutions which will reduce our climate footprint and increase energy efficiency.

STI provides equity or project based funding combined with expert technical and financial guidance.

The STI team has experience from finance, mergers & acquisitions, boards, management, marketing & sales, technology development and implementation, and oilfield technologies. STI’s close connection to the larger technical community within Statoil and the Statoil assets can provide expert technology advice on development and qualification, as well as piloting access and support.

STI manages Statoil’s engagements in key Norwegian incubators (Ipark, Kongsberg Innovasjon, Kjeller Innovasjon) and in the national seed fund for oil and gas technologies.

From ideas to companies

STI provides equity or project based funding within varying levels of maturity. We have divided them into three phases: STI’s LOOP programme provides project funding and access to technical expertise & pilots without taking ownership, while Seed funding and Venture capital both involve STI paying for an ownership stake in a company.

  • LOOP programme

    STI's LOOP programme provides project specific funding, technical expertise and access to pilot wells without taking an ownership stake in the company.

  • Seed funding

    Seed funding would typically be used for companies with technologies at or around the proof of concept stage. When working with Seed companies, STI typically focuses on developing their technologies, validating prototypes and eventually piloting the technology.

  • Venture capital

    Venture capital would be invested in companies with commercial or near commercial technologies. When working with venture companies, STI typically focuses on validating the technology and building the organisation to support sales and service delivery.

What we look for in a company

The fundamental criterion for us is a strong strategic fit. We are Statoil`s oil and gas corporate venture unit hence our first filter would be to assess what the portfolio company can bring to Statoil, now or in the future. If the strategic fit is strong, we will use the following other parameters to carefully evaluate which opportunities to pursue:

  1. Significant implementation value: Product or services that can be implemented in Statoil`s value chain and result in significant revenue growth, cost reduction and /or improved HSE.
  2. Scalable market potential: We will target companies active in markets that are large enough to allow the portfolio company to grow quickly to a significant size.
  3. Strong team: We will back management teams who have the drive to build successful world-class companies, have entrepreneurial experience and are committed.
  4. Competitive advantage: Every interesting business has real competition. We will invest in companies that can convince us that they have the advantages that address all forms of competition, and can sustain these advantages over several years.
  5. Exit potential: Last but certainly not the least – strong outlook for a successful exit. Potential for attractive returns will drive our evaluation process.

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Oslo - Stavanger - Trondheim - Houston