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Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
Statoil’s industrial response to the energy and climate challenges
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Statoil’s industrial response to the energy and climate challenges

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Øystein Michelsen Executive Vice President, Statoil …

Øystein Michelsen Executive Vice President, Statoil
- Brief presentation of Statoil
- Energy realities and climate change challenge and Statoil’s response
- Our ambition to keep maintain export of
- CO2 efficient energy until 2020
- The need for action today from the industry, supplier industry and regulators to sustain production

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  • 1. Statoil’s industrial response to the energy and climate challenges Øystein Michelsen Executive Vice President, Statoil
  • 2. Statoil in brief • Energy company present in 40 countries with 30,000 employees • Producing 1.95 million barrel of oil equivalent (boe) pr day • About 22 billion boe in proven resources (5.6 billion as booked reserves) • One of the world’s largest net sellers of crude oil • The world's largest operator in waters deeper than 100 metres • World leader in carbon capture and storage • The second largest exporter of gas to Europe • Largest retailer of oil products in Scandinavia • Over 16 billion € in yearly group procurement
  • 3. Striking the right balance Energy Climate Global Economic realities challenge leadership development Statoil’s industrial response Low carbon Carbon capture New energy Energy supply production and storage 120 80 40 0 2001 2005 2009 2013
  • 4. CO2 efficient and attractive energy Climate gas emissions - kg CO2 Break even gas prices in equivalent per barrel of oil equivalent power generation (no CO2 cost) $15/MMbtu $11/MMbtu Global average: $10/MMbtu Norway Europe Middle Russia Africa Gas Coal Nuclear Wind East Investment Operation Fuel Source: IEA
  • 5. Norway - an important supplier of energy Norway in the oil market Norway in the gas market Net export (mb/d) Reserves (bn bbl) Net export (bcm/year) Reserves (tcm) Source: BP Statistical Review of World Energy 2007.
  • 6. Statoil’s ambition: maintain the production level Stilised production profile Access to new acreage needed to sustain production beyond 2020 Early phase projects Fields under development Fields in production Map source: Norwegian Petroleum Directorate.
  • 7. Barents Sea Large remaining potential Norwegian Sea North Sea Undiscovered Produced Remaining reserves Contingent resources in field and discoveries Source: Fact sheet, Ministry of Petroleum and Energy
  • 8. alternatives
  • 9. From pioneering to industrialsation
  • 10. The European Gas perspective Main supply routes to Europe •  Europe – in a fortunate position on gas •  IEA report on natural decline rates (Nov 2009) Pipeline –  50% reduction in global capacity by LNG 2030 Norway •  Implication for Europe Russia –  need 250 BCM/y of new capacity by 2030 •  Long term security of gas will require –  Timely investment in new capacity –  Access to new exploration acreage Algeria •  Long lead times – Action needed now for 2020-25 supply
  • 11. 12 Statoil Group Procurement 2009 Top 10 Countries Spend based on suppliers’ invoice address Total Spend 2009: BNOK 129,8 Total Spend 2008: BNOK 121,4
  • 12. The economy is picking up speed, but… Economic growth forecast Oil price 2001-2015 by key country/region Brent blend, USD/bbl Source: IHS Global Insight Source: Statoil
  • 13. Gas: Bridging troubled waters Short-term gas prices UK NBP, GB pence per British thermal unit Weak market fundamentals Competitive energy source Fuel for the future Source: Statoil
  • 14. • Snøhvit Statoil on the Norwegian Continental Shelf Hammerfest Exploration and production Norway Harstad Operations Offhore installations 34 North •  Norne Mobile rigs 18 •  Heidrun Sandnessjøen •  Åsgard Vessels 50 •  Kristin Brønnøysund Operations Helicoptres 22 West •  Njord Chartered planes 2 •  Statfjord Stjørdal •  Oseberg Helicopter bases 6 Kristiansund •  Gullfaks Supply bases 7 •  Snorre Florø Operations •  Troll Bergen/Mongstad North Sea •  Kvitebjørn •  Visund Stavanger •  Grane Our strategy: •  Sleipner •  Volve Safe and efficient operations •  Draupner Maximise the potential • Marginal fields
  • 15. NCS - Great achievements in short time •  Consolidated two large organisations •  Production delivery confidence •  Positive HSE trend, with some setbacks •  300 kboe/d in new production capacity •  70 kboe/day to be put onstream 2010 •  4 PDOs •  Successful exploration –  60 discoveries, 70 % success rate •  IOR reserve growth: 431 mill boe
  • 16. NCS - Great achievements in short time •  Consolidated two large organisations •  Production delivery confidence •  Positive HSE trend, with some setbacks •  300 kboe/d in new production capacity •  70 kboe/day to be put onstream 2010 •  4 PDOs •  Successful exploration –  60 discoveries, 70 % success rate •  IOR reserve growth: 431 mill boe
  • 17. An industry that makes a difference A significant role in the Norwegian economy Macroeconomic key figures 2008 In 2009, total NCS investment Oil and gas share in… amount to 40 opera houses Total export: Government revenue: 51 per cent 36 per cent Real investment spending Gross domestic product 24 per cent 25 per cent Source: Statistics Norway, Ministry of Finance
  • 18. Major contributor to society From oil and gas to wealth and welfare Government Petroleum Fund - Global Per capita GDP Total capital, NOK bn USD index, 2006 (USA = 100) Source: Norges Bank, OECD.
  • 19. Norwegian Continental Shelf Snøhvit Norwegian Continental Shelf Melkøya The first1979 –- 1985 Status step 2000 fourth step –- 2006/7 second step 1996 third step Snøhvit Troll Statfjord Statpipe Norne Key learnings Åsgard Heidrun ÅTS Haltenpipe • What seems impossible can be doneOrmen Lange Åsgard Statfjord Nyhamna • … and create significant value Troll Frigg Kollsnes Vesterled Sleipner Kårstø St Fergus Ekofisk Europipe II Europipe I Langeled Zeepipe I Norpipe Teesside Franpipe Easington Emden Zeebrugge Dunkirk
  • 20. Arctic resources and Statoil’s offshore positions •  Chuckhi Sea (US Alaska) •  Barents Sea (Norway / Russia) • East Greenland •  Newfoundland (Canada)
  • 21. The Barents Sea • Vast area –  1.4 Million square kilometres • Licence awards and consecutive exploration drilling since 1980 –  81 exploration wells –  27 active exploration and production companies • Major field developments –  Snøhvit Liquefied Natural Gas (StatoilHydro) –  Goliat oil field (Eni)

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