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Statoil ASA

Company Detail

Description

Norway's Statoil ASA is an integrated energy company that is primarily engaged in oil and gas exploration and production. Statoil is present in more than 30 countries worldwide. In Latin America, its main operations comprise two operating fields in Venezuela and Brazil. In Venezuela, Statoil holds a 9% stake in the extra-heavy crude oil project Petrocedeño, in the Orinoco belt, where PDVSA and Total are also involved. In Brazil, the company owns a 60% stake and is the operator of the Peregrino field, in the Campos basin. In the same country, it also participates in the development of the São Bernardo discovery, located in block BM-ES-22A, in the Espírito Santo basin. Finally, the company has exploration licenses in Colombia, where in 2014 it signed a farm-in deal with Spain's Repsol under which Statoil secured interests in offshore blocks Tayrona and Guajira Offshore 1. Statoil was founded in 1972 under the name Den Norske Stats Oljeselskap, but changed it to Statoil in 2001. The firm is based in Stavanger, Norway, and has representative offices in Kazakhastan, United Arab Emirates and Mexico.

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