![]() Our key markets include: Norway: Although we are the largest oil and gas operator on the Norwegian continental shelf and a key supplier to the Norwegian domestic market, most of Norway's oil and gas production is exported, due to Norway's small population and the fact that Norwegian domestic electricity needs are largely met through hydropower. We have set ambitious targets to reduce our carbon emissions and intensify our push into renewable energy. ![]() ![]() Sustainability and low carbon strategy: Recognizing the global shift towards cleaner energy sources and the need to combat climate change, we have integrated sustainability into our business strategy. These partnerships can help share risks, costs, and expertise, especially when entering new markets or developing large-scale projects. Strategic partnerships: We frequently collaborate with other industry players, technology firms, and even governments. Research and development: We invest heavily in research, technological developments and digitalisation to optimise our production, enhance recovery rates from existing fields, and develop new energy solutions that are more environmentally friendly. Our goal is to transition from being a traditional oil and gas company to becoming a broader energy company, reducing the carbon intensity of our products in the process. Renewable energy: In recent years, we have made significant investments in offshore wind farms, solar energy, and carbon capture utilisation and storage (CCUS) projects. ![]() Upstream operations (exploration and production): The core of our business has been rooted in the exploration, development, and production of crude oil and natural gas, including operations on the Norwegian Continental Shelf (where we are the largest operator) and international oil and gas production in various parts of the world.ĭownstream operations: Our downstream operations include refining, marketing, and distributing oil and gas products, but our downstream presence was considerably reduced following the sale of Statoil Fuel & Retail to Alimentation Couche-Tard in April 2012. ![]()
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