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Statoil, the by far biggest oil and gas company in Norway, is world leading in offshore oil and gas field development.
Statoil refines oil and gas at a number of plants both in and outside Norway and is technical service-provider for about 7000 kilometres of pipeline from the Norwegian continental shelf to Europe.
The company has about 29,500 employees in 40 countries. Production averages more than 1,7 million barrels of oil equivalent per day
The company operates the Snøhvit field, the first offshore development in the Barents Sea.
In October 2007, the company was invited to join Gazprom in the development of the Shtokman field in the Barents Sea.
From before, the company is partner in the Kharyaga oil field in the Nenets Autonomous Okrug with a 40 percent ownership stake. The project is one of Russia three field operated on the basis of a PSA.
StatoilHydro dissatisfied with Barents Sea progress
The Norwegian energy company had hoped for a breakthrough in the Barents Sea in 2008. However, the exploration drilling last year ended up with disappointing results.
With the exploration drilling of several new wells in the Barents Sea, StatoilHydro had high expectations for 2008. StatoilHydro's General Manager on Norwegian Continental Shelf, Øystein Michelsen says to Norwegian website Petro&Industri that the company is disappointed that the results of 2008 were so poor.
− We had hoped for a breakthrough in the Barents Sea, but we have not yet been able to fully understand where oil and gas resources are hidden.
However, the energy company has no intention to put its efforts in the Barents Sea on hold, even though it is hard to keep up the optimism. The company is now working on a number of alternatives on how to proceed in the Barents Sea.
