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Statoilhydro Asa News

02 Nov 2009

StatoilHydro becomes Statoil

StatoilHydro ASA changed its name to Statoil ASA with effect from Nov. 1. The ticker symbols will remain unchanged as STL on the Oslo Stock Exchange and STO on the New York Stock Exchange.   (www.statoil.com)

19 Oct 2009

Cnooc in Talks for Leases in U.S. Gulf

According to an Oct. 19 report from The Wall Street Journal, Cnooc Ltd. is in talks with Norway's StatoilHydro ASA over a deal for a few leases in the U.S. Gulf of Mexico, a deal that would open the U.S. Gulf to China's oil companies for the first time, a person familiar with the matter said. (Source: The Wall Street Journal)

05 Aug 2009

StatoilHydro Profit Almost Wiped Out

According to an August 4 report from Bloomberg, StatoilHydro ASA, the world’s largest offshore oil and gas operator, said profit was almost wiped out in the second quarter as the global recession sapped fuel demand, denting prices for crude and natural gas. Net income fell to $12.8m the Stavanger, Norway-based company said. (Bloomberg)

04 Nov 2008

StatoilHydro's 3Q Results

StatoilHydro ASA (OSE: STL, NYSE:STO) StatoilHydro's net income in the third quarter in 2008 amounted to NOK 6.3 billion compared to NOK 14.6 billion in the third quarter of 2007 and was negatively affected by the significant strengthening of the US dollar compared to NOK on net financial items and consequently an unusually high tax rate. Net income in the first nine months of 2008 amounted to NOK 41.2 billion, compared to NOK 38.4 billion in the first nine months of 2007. In the third quarter of 2008 the net operating income was NOK 47.0 billion, compared to NOK 35.8 billion in the third quarter of 2007. For the first nine months of 2008, net operating income amounted to NOK 161.1 billion, compared to NOK 106.4 billion in the first nine months of 2007.

16 Oct 2008

Promising Gas Discovery in the Norwegian Sea

StatoilHydro has concluded the drilling of exploration well 6707/10-2S in the . Gas was confirmed in a reservoir with good production qualities. The well was drilled in production license 218, which is located south-east of the Luva gas find and 280 kilometers west of Sandnessjøen in mid-Norway. StatoilHydro is the operator of the production license. The purpose of the well was to confirm gas in reservoir rocks from the Late Cretaceous age in a prospect called Haklang. A 127-metre long gas column was proven in a reservoir with good production qualities.

07 Jul 2008

Gas Discovery in the Barents Sea

During the drilling of exploration well 7226/2-1 in the Barents Sea StatoilHydro, the operator of the licence, has struck gas in a prospect named Ververis. The drilling in 347 metres of water was performed by the Polar Pioneer drilling rig. This is the 13th discovery on the Norwegian continental shelf that StatoilHydro is involved in this year. The main purpose of the well was to confirm the existence of hydrocarbons in early Jurassic to mid-Jurassic sandstones. The well confirmed the existence of gas in mid-Jurassic sandstones. No gas/water contact was established.

12 Mar 2008

Aker Yards Wins Unique Design Solution Wins DOF Contract

Aker Yards has been awarded a contract with DOF ASA to build an innovative LNG-powered platform supply vessel. The vessel is designed and equipped with the newest and most innovative environmentally friendly equipment and solutions. After delivery from Aker Yards in in 2010, the vessel will operate on charter for StatoilHydro ASA. The selected solutions and engine systems for the new and modern platform supply vessel (PSV) are a response to the focus on more environmental cautious ship transportation of various bulk cargos, liquids and equipment to and from offshore locations world wide. The vessel will be equipped with duel fuel engines able to run on both LNG and ordinary marine diesel.

16 Nov 2007

BP Finds Major Gas Field

According to a Bloomberg report, BP Plc discovered a gas deposit in the Caspian Sea that may double production from the largest natural gas development in Azerbaijan. BP shares rose 2.8 percent, the most in a month, in London trading after the company announcement. With the latest discovery, the field may be able to pump enough gas to supply Belgium and Luxembourg together. BP and partners including StatoilHydro ASA plan to spend $4.2b on the site's first stage, which started pumping fuel to Turkey in July, easing Europe's dependence on supplies from Russia's OAO Gazprom. The announcement is the second ``major'' discovery within a week after Petroleo Brasileiro SA said an offshore field could be Brazil's biggest ever oil find.

14 Mar 2007

Merger Plan Bigned Hydro, Statoil

The Board of Directors of Statoil ASA and Norsk Hydro ASA have now signed the final plan to demerge Hydro as part of the planned merger of Hydro's petroleum activities with Statoil. Hydro's shareholders will own 32.7% and Statoil's shareholders will own 67.3% of the merged company. 0.8622 share in the merged company for every share they own in Hydro. industry and to be the world's biggest offshore operator. on the Norwegian Continental Shelf. which around 5,000 will come from Hydro. The name of the merged company will from the date of merger completion be called StatoilHydro ASA. and Hydro. Commission (SEC) that contains a draft prospectus regarding the merger. via a stock market announcement on the Oslo Stock Exchange (Oslo Børs). merger plan.

13 Mar 2007

Merger Plan Signed by Boards of Hydro and Statoil

The Board of Directors of Statoil ASA and Norsk Hydro ASA have now signed the final plan to demerge Hydro as part of the planned merger of Hydro's petroleum activities with Statoil. Hydro's shareholders will own 32.7% and Statoil's shareholders will own 67.3% of the merged company. As recompense for the transfer of Hydro's petroleum division, Hydro's shareholders will receive a 0.8622 share in the merged company for every share they own in Hydro. The reason for the merger is a mutual desire to create a globally competitive player in the petroleum industry and to be the world's biggest offshore operator. The boards have emphasized that the merger is a growth-oriented response to the challenges facing the industry…