New sustainability report

July 3, 2003, 14:45 CEST

A new report on ways in which Statoil can contribute to sustainable development is being published today, 3 July, under the title Delivering what we promise.

This is the second document of its kind issued by the group, and focuses on the results achieved and measures implemented in relation to the first report last year.

For Statoil, sustainable development relates to the impact of its operations on people, the environment and society.

Delivering what we promise aims to communicate to the market how it is possible for the oil and gas industry to contribute to sustainability.

In the report, chief executive Olav Fjell notes that Statoil applies the precautionary principle and emphasises that its responsibility also extends to the environment and society.

“We have had much discussion within Statoil about whether a group which produces a non-renewable resource can be sustainable,” he observes.

“My response to the sustainability challenge is that we will pursue our operations in such a way that the next generation also benefits from them.”

Project manager Anne Kristin Sydnes says that greater emphasis has been placed in this year’s report on the specific results achieved.

Statoil’s activity in Arctic regions relating to its Snøhvit gas development off northern Norway is one of two topics covered in particular detail, with operations in Azerbaijan as the other.

“We feel we have developed a ‘Statoil way’ of working in Azerbaijan which will provide an inspiration for our involvement in other countries,” Ms Sydnes observes.

She adds that contributing to sustainable development is not only an ethical obligation but can also be justified by sound commercial arguments.