Statoil presents annual and sustainability reports for 2014
(Thomson Reuters ONE) -
Statoil (OSE:STL, NYSE: STO) is presenting the annual and sustainability reports
for 2014 today, 19 March, together with the new payments to governments report.
"In 2014 we continued to deliver solid operational results. Our production
efficiency improved significantly, we are on track with our improvement
programmes and we continued to deliver good safety results. However, the
profitability of our industry continues to be challenged and Statoil's financial
results are highly impacted by the fall in oil prices," states Eldar Sætre,
president and CEO of Statoil ASA, when commenting on the reports presented
today.
Statoil delivered annual equity production of 1.927 million barrels of oil
equivalent per day in 2014. This is a result of improved production efficiency
and start-up of new fields. The increased production represents a growth of 4%
from a rebased 2013 level. Statoil continues to be among the leading exploration
companies in the industry and strengthened the reserve base through exploration,
adding 540 million barrels of expected resources.
The serious incident frequency (measured as incidents per million hours worked),
including Statoil's employees as well as our suppliers', decreased from 0.8 in
2013 to 0.6 in 2014. However, this solid result is overshadowed by two
fatalities in the contractor workforce in the US onshore operations.
Sustainability matters
Statoil also publishes today its sustainability report. Statoil continues to
have high sustainability ambitions. One ambition is to be recognised as the most
carbon efficient oil and gas producer. The results presented in the
sustainability report confirm that Statoil is currently one of the world's most
carbon efficient oil and gas companies.
Statoil's goal for 2014 was to identify measures that would cut 250,000 tonnes
of CO2 emissions from our production. Measures were identified that actually
will cut 339,000 tonnes of CO2 emissions. In addition steady progress was made
towards meeting the 2020 carbon efficiency targets.
"Statoil takes an active and industrial approach to sustainability. To us,
sustainability is a business matter, where the need to remain highly competitive
is combined with and strengthened by our efforts to accelerate the development
of more carbon-efficient solutions. Being a trusted company with a long-term
social license to operate will enhance future business opportunities," says
Sætre.
Revenue transparency
In December 2013, the Norwegian Parliament adopted a new law that requires
disclosure of payments to governments per project, country and government
receiver. The purpose of the legislation is to enhance transparency in the
extractive industries and to combat corruption. Similar legislation has been
adopted by the EU.
Statoil will be the first major oil and gas company that reports in accordance
with the new regulations.
"This report, a first of its kind, represents a milestone in transparency
efforts both by the Norwegian government and Statoil. Statoil has invested
considerable resources to establish new processes and systems for this
reporting," says Sætre.
The payments to governments report is published on Statoil's website today and
contains detailed information about payments related to the company's extractive
operations in all countries.
***
Users may download the entire report, or part of it, at
www.statoil.com/downloads, while printed versions are obtainable from
www.statoil.com/orderreports
Contacts
Investor relations
Peter Hutton, senior vice president
+44 7881 918 792 (mobile)
Press
Jannik Lindbæk jr., vice president Media relations
+47 977 55 622 (mobile)
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Annual report 2014 on Form 20 F:
http://hugin.info/132799/R/1904695/677649.pdf
Statutory report 2014:
http://hugin.info/132799/R/1904695/677647.pdf
Sustainability report 2014:
http://hugin.info/132799/R/1904695/677648.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Statoil via GlobeNewswire
[HUG#1904695]
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Datum: 19.03.2015 - 07:59 Uhr
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