Statoil ASA

Company Description
Statoil ASA (Statoil), formerly StatoilHydro ASA is an integrated energy company based in Norway with locations in approximately 40 other countries worldwide. As of December 31, 2009, the Company had proved reserves of 2174 million barrels (mmbbl) of oil and 514 billion cubic meters (bcm) (equivalent to 18.1 trillion cubic feet (tcf)) of natural gas, corresponding to aggregate proved reserves of 5408 million barrels of oil equivalent (mmboe). The Company operates in four business segments: Exploration and Production Norway (EPN), International Exploration and Production (INT), Natural Gas (NG) and Manufacturing and Marketing (M&M). In July 2010, Statoil ASA sold its Tampnet subsidiary to HitecVision.