Norway’s largest energy company helping nation reach record offshore-asset sales

Norway’s largest energy company helping nation reach record offshore-asset salesStatoil, Norway’s largest energy company, may help the country reach record offshore-asset sales as the company reaps the benefits of exploration success and refocuses on its larger projects.

Statoil, which is 67 percent-owned by the Norwegian government, led the way in terms of value last year, selling $2.65 billion sale of assets in Norway and U.K. to OMV AG in August. Transactions involving stakes in Norwegian offshore fields reached $2.5 billion in 2013, second only to the previous 12 months when deals reached 19 billion kroner.

Over the past two years, Statoil has sold North Sea assets for more than $5 billion. At the same time exploration has yielded an average reserve replacement ratio of 1.01 from 2010 to 2012, meaning the company has added more oil and gas than it’s produced. Statoil found almost 1.4 billion barrels of oil equivalent in 2013, more than any other company.

Capital investments in Norway’s oil industry rose 30 percent to a record 176 billion kroner in 2013, excluding exploration costs, and are expected to stay at about that level this year.

As the Norwegian oil and industry continues to grow, Norway is looking for foreign talent to join its workforce. Many oil companies are recruiting through TUjobs.com, an online recruitment website that posts daily job vacancies in the oil and gas industry. Here are some examples of this week’s job opportunities:

  • Service Coordinator with Technical Skills at Experis in Sør-Trøndelag;
  • Service Engineer at Experis in Sør-Trøndelag;
  • Structural Engineer PDMS at Experis in Rogaland;
  • Senior Project Engineer at Experis in Oslo.

To learn more and see this week’s job opportunities in Norway, visit www.TUjobs.com.

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