MTR100: The Norway Way
.com Phone: 47 815 52 100 Web: reinertsen.com Leadership: Torkild R. Reinertsen (chairman) and Erik R. Reinertsen CEO) - owners Number of Employees: 2,700+ Statoil ASA Forusbeen 50, 4035 Stavanger, Norway Email: [email protected] Phone: 47 51 99 00 00 Web: statoil.com Leadership: Helge Lund - CEO Number of Employees: 23,000 (In the background: Installation of the Åsgard subsea factory with Saipem 7000. (Photo: Øyvind Hagen – Statoil) (As published in the July/Aug 2014 edition of Marine Technology Reporter - http://www.marinetechnologynews.com/Magazine
Gas Prices Help Offset Statoil's Output Drop
to enhance value, but remain on track for delivering on our production guiding for 2014. "Our quarterly earnings were impacted by divestments, seasonal effects and lower gas prices. For the first half of the year, earnings were around the same level as in the same period last year," said Helge Lund, Statoil's president and CEO. Statoil’s net income for the second quarter was NOK 12 billion, an increase from NOK 4.3 billion in the same period of 2013. Earnings per share were NOK 3.75, an increase from NOK 1.38. Adjusted earnings were NOK 32.3 billion, a 15% decrease compared to
Statoil Opens Research Center in Norway
. It will enable tracking of oil movements and flows in various rocks on pore level. Through high-resolution 2D and 3D images it will be possible to see which IOR method is best suited in each reservoir, while receiving a deeper understanding of how the reservoir is formed. Statoil’s CEO Helge Lund expresses his high expectations of the IOR center, stating “Our next goal is the oil which is difficult to extract. We have a steep learning curve ahead of us, which will be tougher for every percentage point we achieve, but these volumes are of high value to us. A dedicated IOR lab gives
Statoil's Lund: Natural Gas is a Big Opportunity for Germany
“There is a large potential for Germany to cut its climate emissions in a cost-effective way through the increased use of natural gas”, said Statoil CEO Helge Lund Switching from coal to gas as the power sector is a significant opportunity to cut emissions. This alternative can save more than 50% of emissions per kilowatt-hour of electricity produced. “I think it is both timely and necessary for German to develop a plan for how natural gas can contribute to fulfilling the ambitions of the Energiewende (energy transition). Increasing the use of natural gas will be beneficial
Statoil Reports Robust Q1
could pay more to shareholders. Shares in Statoil were up 3.86 percent at 0755 GMT, outperforming a 0.79 percent gain in the European oil and gas index. The stock was among the best performers on the Oslo bourse, outstripping a 1.2 percent rise in the benchmark index. Chief Executive Helge Lund said healthy prices and good results from its U.S. gas assets were behind the strong numbers. Statoil is present in all the major U.S. shale gas plays. "The cold weather (in the United States) and good gas infrastructure (on the Northeastern Seaboard) has made it possible for us to
Statoil Invites Suppliers to Closer Cooperation
Day, being arranged this year for the first time, is set to become Statoil’s most important arena for meeting politicians and industrialists in the Stavanger region. Some 630 participants were in attendance at the Concert Hall. NCS is Statoil’s centre of gravity President and CEO Helge Lund emphasised the important role played by the Stavanger region and the west coast of Norway. “In addition to being at the centre of the country’s oil and gas industry, Stavanger is also a global energy capital. It has achieved this position by virtue of an industry that has managed
Open Hearing on Mongstad Carbon Projects
the report of the Office of the Auditor General of Norway on last autumns' investigation into the way the Norwegian state has dealt with the question of carbon capture and storage (CCS). The hearing will take place in the Storting's Standing Committee on Scrutiny and Constitutional Affairs. CEO Helge Lund will, among others, further inform the hearing about Statoil's role and the company's evaluations in its efforts to establish a full-scale carbon capture plant (CCM) for the power and heating plant, as well as the setting up of a technology centre at Mongstad (TCM). All the political parties
Statoil Second Quarter Results 2013
2013 net operating income was NOK 34.3 billion. Adjusted earnings were NOK 38.0 billion. "Statoil delivered an operationally solid quarter. We produced as planned, delivering record production from our portfolio outside Norway. We are on track and maintain our guidance for 2013," said Helge Lund, Statoil's president and CEO. "Our financial results were impacted by lower prices for liquids and gas and weak trading results. However, we have maintained good cost control and delivered strong earnings, particularly from our international portfolio. In the quarter, Statoil ramped up
Offshore Marriage of Interests Judged Successful
, and exploration activity is especially strong, requiring access to a significant number of rigs and competent workers to operate them. One new frontier is the Arctic. “We see increased concern for protecting our environment and the health and safety of our people,” said Statoil CEO Helge Lund. This gives rise to the need for more transparency as well as cooperation and collaboration between communities, governments and industry. “In the freezing cold of the Arctic, no one can survive alone for very long,” he said. Kristian Siem, Chairman and CEO of Siem Industries,
February 2024
