Technologies to solve new energy challenges Helge Lund, President and CEO Statoil ASA World Petroleum Congress • Moscow 17 June 2014

1. World Petroleum Congress • Moscow 17 June 2014
Technologies to solve new energy challenges
Helge Lund, President and CEO Statoil ASA

2. 2
Statoil – a technology focused upstream company
Unlocking Norway’s potential in four decades
1970/80s:
Gravity based structures
1990s:
Floating installations
2000s:
Subsea to shore
2010s:
Subsea factory
Åsgard A FPSO, started
producing in 1999.
Troll A, the tallest structure
ever moved by mankind.
Snøhvit, the first offshore
development in the Barents Sea.
Åsgard subsea compression, the
world’s first project of its kind.

3. 3
INVESTING MORE,
PRODUCTION IS FALLING
INCREASED OIL PRICE,
LOWER RETURN ON CAPITAL
RESPONDING TO THE
CHALLENGE
The Capital and cost challenge
Source: Statoil analysis
*Peer group includes: BG, BP, CVX, COP, ENI, XOM, RDS, STL, TOT
ROACE = unadjusted NOPAT / average capital employed; where NOPAT = EBIT * (1 - tax rate/100). q/q = latest quarter vs previous quarter
Developmentcosts,USDMRD
Production, mmboed Peer group ROACE (LHS)
Brent ($/bbl) (RHS)
Enhancing
efficiency
Prioritisation and
capex discipline
Statoil’s peer group* Statoil’s peer group*

4. 4
The Carbon challenge
OUR TECHNOLOGY RESPONSEMORE ENERGY AND LESS CO2
Limit flaring
Reduce methane leakages
Develop carbon capture and
storage

5. 5
Communities: Increased expectations to “big oil”

6. 6
Technologies to solve new energy challenges
Helge Lund
President and CEO Statoil ASA
www.statoil.com