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Company Description

Contact Info

Forusbeen 50

Stavanger, 4035


Phone: 47 51 99 00 00

Fax: 47 51 99 00 50

eline to a plant at the Jose Industrial Complex at the coast nearby Puerta La Cruz where it is upgraded into a light crude and exported. Sub-Saharan Africa The company’s production activities in Sub-Saharan Africa comprise Angola and Nigeria. Angola: The deep water blocks 17, 15, 31 and 4/05 contributed with 40% of the company’s equity liquid production outside Norway in 2015. Block 17 comprises production from four FPSOs; CLOV, Dalia, Girassol and Pazflor. Block 15 has production from four FPSOs: Kizomba A, Kizomba B, Kizomba C-Mondo, and Kizomba C-Saxi Batuque. In April 2015, the Kizomba Satellites phase 2 project, which consists of the fields Bavuka, Kakocha, and Mondo South started production. The fields are developed with subsea wells and infrastructure tied back to the Kizomba B and Mondo FPSO vessels. Block 31 has production from the PSVM FPSO. The company had production from the Gimboa FPSO on Block 4/05 until the company exited the Block in September 2015. The FPSOs serve as production hubs and receive oil from a large number of wells and approximately one field each. In 2015, new wells were added and set into production on Block 15, Block 17 and Block 31. Nigeria: In Nigeria, the company has a 20.2% interest in the Agbami deep water field, which is located 110 km off the coast of the Central Niger Delta region. The field is developed with subsea wells connected to an FPSO. The Agbami field straddles the two licenses OML 127 and OML 128, and is operated by Chevron under a Unit Agreement. The company has 53.85% interest in OML 128. North Africa The company had in 2015 production in North Africa from Algeria. Algeria: The In Salah onshore gas development, in which the company has a working interest of 31.85%, is Algeria's third-largest gas development. In February 2016, the In Salah Gas joint venture announced the introduction of gas in the In Salah Southern Fields processing facilities. Gas export from the project started in March. This project, which is led by the company on behalf of the Joint Venture, will mature the remaining four discoveries into production. The southern fields (Gour Mahmoud, In Salah, Garet el Befinat and Hassi Moumene) will tie in to existing facilities in the northern fields. Libya: There has not been any oil production from the Mabruk or the Murzuq assets in 2015 due to the security situation in the country. Europe and Asia The company’s production in Europe and Asia includes Azerbaijan, Russia, the United Kingdom and Ireland. Azerbaijan: The Azeri-Chirag-Gunashli (ACG) oil field in the Caspian Sea has production from six fixed platforms. The oil is transported through pipelines to the Sangachal onshore terminal near Baku. From the terminal the oil is exported to the world markets. The company has an 8.7% stake in the 1,760 km Baku-Tbilisi-Ceyhan (BTC) oil pipeline that is used to transport ACG oil to the southern Turkish port of Ceyhan. In April 2015, the company completed the sale of its remaining 15.5% interest in Shah Deniz and the South Caucasus Pipeline (SCP) to the Malaysian oil and gas company PETRONAS. Russia: The Kharyaga oil field is located onshore in the Timan Pechora basin in north-west Russia. The field is governed by a PSA. The United Kingdom: The Alba oil field is located in the central part of the UK North Sea. Jupiter is a gas field located in the southern part of the U.K. North Sea. The decommissioning of the Jupiter wells is planned to start in 2016. Ireland: In December 2015, production started on Corrib gas field off Ireland’s northwest coast. Corrib consists of a subsea development with a pipeline to an onshore processing terminal from which gas will be transported to the Irish market. The onshore processing terminal is located approximately 9 km inland. International Exploration In 2015, the company carried out significant international exploration activity, as is shown by the company's involvement in 18 completed wells (including both Statoil-operated and partner-operated activities). Eight wells (exploration and appraisal) were announced as discoveries in the period, including the Piri 2, Tangawizi 2 and M


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Price/Cash Flow 40.1x
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