Stake in new e-mart

August 29, 2000, 13:00 CEST

A holding has been secured by Statoil in Trade-Ranger, the new electronic marketplace for oil and gas industry procurement.

Fourteen energy and petrochemical companies are behind this e-commerce service, which was previously called the Energy & Petrochemical Exchange.

Statoil has a four per cent interest in the venture, and is committed to investing just under NOK 40 million.

Trade-Ranger will be used to buy and sell goods and services – from screws to modules – required for development and operation, reports vice president Kristian Hausken. He is responsible for Statoil's commitment to e-business.

Work on the electronic eOil product catalogue developed by a number of operators and suppliers for Norwegian offshore procurement will continue within the Trade-Ranger framework.

In addition to Statoil, eOil backers BP, Shell, TotalFinaElf and Phillips Petroleum have become co-owners of the new service. Other eOil partners will also be able to use it.

"Our efforts to develop eOil show that Norway's supplies industry is well positioned to meet e-commerce challenges," says Mr Hausken.

He adds that Statoil aims to cooperate on a broad basis with other oil companies and suppliers to ensure that its commitment to e-commerce proves a success.