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Statoil Signs USD 5 Million Partnership Agreement With University Of Texas

UT has for many years been an important partner for Statoil within research and technology development, especially in the areas of geology, geophysics and petroleum engineering. Four strategic areas are identified in the new agreement:

  • Integration of geological, geophysical and petrophysical data in earth models
  • Trap integrity in salt basins – sub-salt imaging and seal versus pore pressure challenges
  • Drainage of deep marine reservoirs – static and dynamic reservoir models and drainage methods
  • Unconventionals – improved development and drainage of shale plays

"This agreement is vital for Statoil's long-term ambitions in the US," says Helge Haldorsen, vice president for strategy in Statoil North America.

"We are in a growth mode, and this agreement will allow us to access world-class research and long-term recruitment opportunities. By extending and formalising our collaboration with UT, we aim at stimulating research and competence development within strategic important areas both for UT and Statoil," he says.

Statoil's academia programme consists of 11 bilateral agreements. Of these, eight are with Norwegian institutions and three are international. In addition to the UT agreement, Statoil has formalised collaboration with Imperial College in the UK and Delft University of Technology in the Netherlands.

Statoil is an international energy company with operations in 34 countries. Building on more than 35 years of experience from oil and gas production on the Norwegian continental shelf, Statoil is committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. Statoil is headquartered in Norway with 20,000 employees worldwide, and is listed on the New York and Oslo stock exchanges.

In North America, Statoil is established with US offices in Houston, Texas; Stamford, Connecticut; Washington DC and Anchorage, Alaska, and Canadian offices in Calgary, Alberta and St. Johns, Newfoundland and Labrador. 

Statoil is one of the largest holders of deepwater acreage in the US Gulf of Mexico, where it also has interests in six producing fields. Onshore US, the company holds material positions in the Marcellus and Eagle Ford shales. In Canada Statoil is operator for the Kai Kos Dehseh project in Alberta and has interests in two producing fields offshore Newfoundland.

Statoil's Research and Development department has about 700 employees. Statoil is devoting approximately USD 430 million to research activities in 2011, and has research centres in Norway (Trondheim, Karsto, Bergen, Porsgrunn), a heavy oil technology centre in Canada ( Calgary) and technology activities in Beijing, Rio de Janeiro and Houston.

(Logo: http://photos.prnewswire.com/prnh/20101006/STATOILLOGO)

CONTACT: Ola Morten Aanestad, +1-713-498-0585, oaan@statoil.com

SOURCE Statoil

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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