Statoil is an international power company which started in Norway and later expanded to more than 30 countries worldwide including several of the world’s top oil and gas territories. They operate in North and South America, Africa, Asia, Europe, and Oceania—as well as Norway. Though it primarily started out as a company tapping and supplying traditional resources of power like natural gas and petroleum, it has now made a paradigm shift to sustainable power sources as a part of their global initiative.
Statoil has been pushing the boundaries since 1972 by combining their vision with the latest technology to go places where none have been before. Going to greater depths, deeper waters and crossing new boundaries in order to meet the challenges in the oil and gas industry. Statoil is a major surveyor for new oil and gas fields.
The company does this to replenish the reserves which are extracted from current fields and to meet the energy needs of a growing world population with development in the standards of living. Statoil is one of the major producers of crude oil and natural gas, which gives out less CO2 emissions. They operate refineries in and outside of Norway. The company understands that the world is undergoing various changes and therefore they are evolving too. They have forayed into the field of alternative sustainable power resources. By 2040 sustainable power sources will account for 57% of the world’s energy. Statoil wants to support this transition towards a better future by doing their bit. Their new energy solutions will include wind energy harnessing and they have already opened wind farms in UK and Scotland to back up their vision. The company understands that the environment needs protection; therefore they are removing older oil and gas installations for the protection of marine life.
Statoil provides crude oil and natural gas which are essential products to keep the wheels of society turning. In the last four years, Statoil has discovered 4.4 billion BOE of energy, has drilled 39 exploration wells and made 18 discoveries worldwide in the year 2015.
They produce a number of processed products such as naphtha, condensates, liquids, petrochemicals, wet gas, methane, propane, petrol, and diesel. Thanks to Statoil renewable power will be provided for 650,000 British homes. The clean energy initiative is not only providing sustainable energy but has proved to be extremely cost effective as well.