Hydro And Statoil Fusion - Worlds Largest Offshore Operator, page 1
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Topic started on 18-12-2006 @ 04:14 AM by Hellmutt


Norwegian companies Hydro and Statoil are merging their oil and gas activities and creates the world's largest offshore operator. A name for the new company has not been made yet. This is a historic event!

Arctic Tanker

Illustration: Håkan Sjøstrøm

Hydro: Oil and gas activities to merge with Statoil

Dec. 18, 2006


The Board of Directors of Hydro and Statoil have agreed to recommend to their shareholders a merger of Hydro's oil and gas activities with Statoil, creating the worlds largest offshore operator with a strengthened platform for future growth.

Statoil press release

18-12-2006


The new company will have a combined production of 1.9 million barrels per day in 2007 and proven oil and gas reserves of 6.3 billion barrels of oil equivalents.

A new name for the merged company will be selected as part of the integration process.

This is big! This will be the start of a new era for Norway.


© Norsk Hydro

source


Key characteristics of the new company:

  • Strengthened production and development portfolio – in Norway and internationally
  • Presence in nearly 40 countries
  • Extensive exploration program and acreage
  • Proven technology and project execution skills
  • World-class gas value chain
  • Integrated refining and marketing, with substantial trading positions
  • Commitment to renewable energy, carbon capture and sequestration


    • Links:
    Hydro (in english...)
    Statoil (in english...)

    Btw, this is breaking news...

    [edit on 2006/12/18 by Hellmutt]
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