EQUINOR: THE WORLD IS CHANGING AND SO IS STATOIL

May 16, 2018

Equinor ASA, the new name of Statoil ASA, was approved by the annual general meeting on 15 May 2018, and the new name has now been registered in the Norwegian register of business enterprises
Statoil was a fully integrated petroleum company with operations in thirty-six countries. The company, headquartered in Stavanger, Norway, was formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro. Statoil was ranked by Forbes Magazine (2013) as the world’s eleventh largest oil and gas company and the twenty-sixth largest company, regardless of industry, by profit in the world.
Statoil was the largest operator on the Norwegian continental shelf, with 60% of the total production. The fields operated are Brage, Heimdal, Grane, Glitne, Gullfaks, Heidrun, Huldra, Kristin, Kvitebjørn, Mikkel, Njord, Norne, Ormen Lange, Oseberg, Sleipner, Snorre, Snøhvit, Statfjord, Sygna, Tordis, Troll, Veslefrikk, Vigdis, Visund, Volve, and Asgard. The company also has processing plants at Kolsnes, Kårstø, Mongstad, Tjeldbergodden, and Melkøya.
In addition to the Norwegian continental shelf, Statoil named from now on Equinor, operates oil and gas fields in Australia, Algeria, Angola, Azerbaijan, Brazil, Canada, China, Libya, Nigeria, Russia, United States, and Venezuela. Statoil has offices that are looking for possible ventures in the countries of Mexico, Qatar and the United Arab Emirates. The company has processing plants in Belgium, Denmark, France, and Germany. In 2006, Statoil was given approval to implement the world’s largest carbon sequestration project as a means to mitigate carbon emissions to the atmosphere
The activity of the company outside the oil and gas sector remains marginal. In 2009, Statoil launched the world’s first operational deep-water floating large-capacity wind turbine. In October 2017, it commissioned the 30-MW Hywind Scotland floating wind farm 29 km off Peterhead, Scotland. In December 2017 In December, it secured a 79,000-acre plot off the coast of New York for its Empire Wind project, a wind farm with a design capacity of 1 gigawatt.
By 2040, Equinor’s projections suggest that the decarbonised power sector will account for as much as 57% of the world’s energy mix, compared to 21% today. As a leading energy provider actively supporting a low-carbon future, Equinor aims to support this transition through our core activities.