A frame agreement covering travel agency services will be concluded by Statoil with Norway's Berg-Hansen Reisebureau on 1 October.
Running initially for three years, the deal includes options to extend it by a further three.
Services from Berg-Hansen will be provided directly to the parent company plus its Scandinavian subsidiaries and Statoil UK.
In other areas, the agency will be represented by its international partner, Carlson Wagonlit Travel.
The agreement covers the provision of various travel agency services and has an overall annual value of roughly NOK 500 million.
Berg-Hansen won the competition for this deal because its bid was judged to provide the best overall financial solution for Statoil, says travel services manager Gunnar Andersen.
The agreement will provide a substantial reduction in Statoil's travel agency costs, he reports. These services are currently provided to the group under contract by two agencies.