Statoil Publishes Annual and Sustainability Report for 2012
Statoil (OSE:STL, NYSE:STO) published the group's Annual and Sustainability Report for 2012 on its website, 22 March, as well as its US Annual Report and accounts on Form 20-F.
"During 2012, Statoil (STO) made good operational and strategic performance. We increased our production by 8% in 2012, in line with the target we announced in 2011, and financial results and cash flows were solid," writes chief executive Helge Lund in his introduction to the annual and sustainability report.
Statoil continued its strong exploration performance, adding more than 1.5 billion barrels in new resources in 2012, its best result in more than a decade. In addition the company secured access to new acreage that will be important for the long term development of Statoil.
"Safe, secure and efficient operations remain our key priorities. Over the past years we have made good progress and our strong performance continued in 2012. However, in January 2013 we experienced great sorrow. Five of our esteemed colleagues lost their lives in the terrorist attack on the In Aménas gas facility in Algeria. Our thoughts and sympathies are with everyone affected by this tragedy. Maximising learning from this incident will be a key priority for Statoil in 2013 and beyond," writes Lund.
Statoil's annual report presentation this year features an interactive feature which enables users to further analyse the company's performance in a range of dimensions. Our sustainability reporting is also integrated in the report. "This reflects our commitment to long-term, sustainable growth in line with the principles of the UN Global Compact," Lund writes.