Celebrating 30 years of operation

The 30th anniversary of Statoil’s foundation is being celebrated today, 26 August, with a dinner in Stavanger for 110 people who have made significant contributions to its development.

Both its former chief executives, Arve Johnsen and Harald Norvik, will be present, along with other present and former senior executives.

The other guests include a number of former petroleum and energy ministers as well as most of the Norwegian oil company’s past and present directors.

“This event is intended to thank those who have created the company, reflect on the past and look forward to new goals,” says chief executive Olav Fjell.

He notes that the development of Statoil represented a national undertaking driven by social commitment, political will and not least industrial visions.

The result has been an efficient, profitable and highly competent group, with very well-informed and inventive specialists and managers.

At a press briefing in Stavanger today, Statoil reported that the group has accumulated a net profit of NOK 80 billion in current money over its 30-year career. It has paid NOK 170 billion in tax and NOK 26 billion in dividend.

“Our results haven’t been uniformly satisfactory,” Mr Fjell admitted. “We’ve had some weak years, and we’ve had some very good ones.”

He emphasised that the group’s financial position has steadily strengthened. “We’re in a robust and strong position today.”

The press briefing was also told that Statoil has been responsible as operator for procuring goods and services worth just over NOK 500 billion. More than NOK 400 billion of this sum has ended up with Norwegian companies.

“One of our most important jobs in the early years was to help develop a competent national industry,” Mr Fjell observed. “Norway has built up a competitive oil-related expertise which is increasingly making international strides.”