October 28, 2016 1:58 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Statoil Petroleum AS

Company Overview

Statoil Petroleum AS explores, produces, and transports petroleum and petroleum-derived products primarily in Norway. The company sells and transports crude oil, natural gas, petroleum, and chemical products. The company also offers pipeline transportation and gas storage activities, as well as processes petroleum products. Statoil Petroleum AS primarily has operations in Norway, rest of Europe, and North America. The company was formerly known as StatoilHydro Petroleum AS and changed its name to Statoil Petroleum AS in March 2009. The company was founded in 2007 and is based in Stavanger, Norway. Statoil Petroleum AS operates as a subsidiary of Statoil ASA.

Forusbeen 50

Stavanger,  4035


Founded in 2007


47 51 99 00 00


47 51 99 00 50

Key Executives for Statoil Petroleum AS

Managing Director, General Manager, Controller of Finance & Control and Director
Senior Vice President DPN Finance & Control and Director
General Counsel and Director
Age: 54
Manager Tax and Director
Compensation as of Fiscal Year 2016.

Statoil Petroleum AS Key Developments

Statoil Petroleum AS Signs Master Service Agreements with Aker Solutions ASA and OneSubsea Processing AS

Statoil Petroleum AS has signed Master Service Agreements with Aker Solutions ASA and OneSubsea Processing AS. The agreements signed form the basis for potential new EPC contracts (engineering, procurement and construction) for subsea equipment in the medium term future. An EPC option agreement for subsea production system (SPS) has also been signed with OneSubsea, including framework agreements for subsea operations services and subsea add-ons. The agreements signed form a good basis for future collaboration with three leading subsea suppliers, thereby simplifying collaboration in the time ahead.

Statoil Petroleum as Announces Cancellation of the Service Contract of COSLPioneer

Statoil Petroleum AS announced the cancellation of the service contract of COSLPioneer, a semi-submersible drilling rig of the Group. The Group and Statoil have reached agreement on settlement in respect of the cancellation, and Statoil will pay the Group a compensation equivalent to a certain percentage of the daily rate of COSLPioneer for the remaining term of the contract (from 23 June 2015 to 15 August 2016). Statoil praised COSLPioneer and its personnel on the safe operation and efficiency and explained that the cancellation was due solely to the volume of operation.

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Recent Private Companies Transactions

May 3, 2016
Edvard Grieg field in Norway

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