The merger between Statoil and Hydro’s oil and gas activities was a forceful reponse to increasing industry complexity and international competition.
The merged StatoilHydro has an expanded technology base and stronger capabilities to execute larger and more demanding projects.
The company has a broader global presence and a stronger portfolio of assets and resources . See previous sections for information about the nature and extent of our operations.
The successful execution and completion of the merger on 1 October 2007, was a key milestone in a year with a historic high activity level. The entitlement production of oil and gas increased by 3%, 15 new projects commenced production , an extensive exploration programme was executed, and the company gained access to new high quality projects and exploration acreage.
StatoilHydro delivered a solid annual result and is well positioned
for future growth and value creation.
