Sustainability and low carbon strategy: Recognizing the global shift towards cleaner energy sources and the need to combat climate change, we have integrated sustainability into our business strategy. These partnerships can help share risks, costs, and expertise, especially when entering new markets or developing large-scale projects. Strategic partnerships: We frequently collaborate with other industry players, technology firms, and even governments.
Research and development: We invest heavily in research, technological developments and digitalisation to optimise our production, enhance recovery rates from existing fields, and develop new energy solutions that are more environmentally friendly. Our goal is to transition from being a traditional oil and gas company to becoming a broader energy company, reducing the carbon intensity of our products in the process.
Renewable energy: In recent years, we have made significant investments in offshore wind farms, solar energy, and carbon capture utilisation and storage (CCUS) projects. Upstream operations (exploration and production): The core of our business has been rooted in the exploration, development, and production of crude oil and natural gas, including operations on the Norwegian Continental Shelf (where we are the largest operator) and international oil and gas production in various parts of the world.ĭownstream operations: Our downstream operations include refining, marketing, and distributing oil and gas products, but our downstream presence was considerably reduced following the sale of Statoil Fuel & Retail to Alimentation Couche-Tard in April 2012. We combine industrial strength with innovative thinking, expertise and collaboration, enabling us to play a leading role in the global energy transition. We support the Paris agreement and have set a clear ambition to become a net-zero company by 2050. We’re committed to the UN’s sustainable development goals and resolving the world’s energy trilemma of security, affordability and climate change. Today, in a world that is increasingly unpredictable, our deliveries of oil, gas and wind power provide a vital and stabilising contribution to Europe’s energy security, both in the short and long term. We’re the largest supplier of energy to Europe, a world-leading offshore operator, the largest oil and gas operator in Norway, and an international pioneer in renewables and low carbon solutions.
Our values-open, courageous, collaborative and caring-guide our decisions and how we engage with each other, our people, our partners, and the societies in which we operate. For over 50 years, our purpose has been turning natural resources into energy for people, and progress for society. We’re an international energy company headquartered in Norway, with 22,000 employees in over 30 countries.
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