| Statoil: Crossing energy frontiers |
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03/11/2009 10:56 (18 Day 04:54 minutes ago) | |||||
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The FINANCIAL -- “Crossing energy frontiers” was communicated as Statoil’s new vision along with its new visual identity by chief executive Helge Lund to all employees at a global town hall meeting today.
“Crossing frontiers is nothing new for us,” he added.
“We’re recognised for pioneering projects and achievements. I can’t see why we shouldn’t continue to be so.”
Lund noted in his speech that a frontier was definitely crossed when Statoil and Hydro Oil & Energy merged two years ago.
“And we’ll continue to cross frontiers in the future when fulfilling our mission together,” he said, and identified three paths in this context: developing a truly global mindset, increasing diversification and adapting new expertise
Course
This period had not been plain sailing, he noted, and had called for great skill in manoeuvring through the greatest economic downturn for decades.
“It might not be over yet. The need for priorities and hard work is still valid. But we’re in a strong position to meet future challenges.”
Looking internationally, Lund cited several of StatoilHydro ’s achievements in recent years, including becoming a partner in the Shtokman project.
Others included a strengthened position in the Gulf of Mexico and on Peregrino off Brazil, solid production from Angola, Algeria and Azerbaijan, and important positioning in new areas such as Canadian oil sands and US shale gas.
On the Norwegian continental shelf, he added, StatoilHydro has documented its expertise through projects such as Ormen Lange and Snøhvit.
More than 70 exploration wells have been drilled since the merger, resulting in over 50 discoveries. Five new fields have come on stream, with another three due next year.
Mission
“Facts tell us that the world will need more energy and less carbon dioxide. To me, helping to resolve this dilemma illustrates the strength of our approach.
“Our mission is not just to accommodate the world’s energy needs, but also to do that in a responsible manner.”
He was concerned to be able to continue developing the group, so that Statoil can grow geographically and expand its portfolio of energy sources.
The new vision would mobilise the workforce to move the group forward along these lines and strengthen its values-based performance culture.
Logo
“To signify our new vision, however, we’ll showcase a new, distinct and differentiating visual identity from today. I felt courageous when we made magenta the colour of our new logo. The star is what brings us all together.”
He felt that the star could point the way for a group with a tradition of taking the lead and being a pioneer.
“But remember that being a pioneer carries with it a great responsibility. Where we lead, others will follow. And those who follow must be able to trust in our judgement, in the decisions we make and in the actions we take.”
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