Our business context • Energy demand continues to accelerate as developing world populations and

economies expand, with fossil fuels playing key role

• Keener competition, both economically and technologically, for access to oil and gas resources

• Research that can be translated into innovative solutions to practical problems is a key component to face nowadays challenges.

The ‘‘Norwegian Model’’: The effect of administrative design on oil sector

performance

Norway has administered its petroleum resources using three distinct government bodies:

•A national oil company engaged in commercial hydrocarbon operations

•A government ministry to direct policy

•A regulatory body to provide oversight and technical expertise

The ‘‘Norwegian Model’’: The effect of administrative design on oil sector

performance

• Statoil – stock listed but partly government – owned

•Ministry of Petroleum and Energy

•NPD – Norwegian Petroleum Directorate, issuing E&P licenses

with the help of

• Petoro

•Norway’s Government Pension Fund

Developing unconventionals is key to meet growing

energy demand

Always aim for the moon, even if you miss, you'll land

among the stars.

W. Clement

Technology roadmap to boost economics and reduce

environmental footprint of oil sands

Apply technology to expand in unconventionals

Bringing together scientists and businessmen

• Different languages• Different priorities• Different views

Not much patience and time to build up productive synergies.

There is a missing link, someone that speaks fluently to both worlds and is able conciliate

the differences.

Research Centers and Specialized Consultancy

The final goal

Integrated workflow

Applications

feedback

Theory

General framework and

integrated workflows

Fund

amen

tal r

esea

rch

Applications

Universities

Industry

Research Institutes

or

Specialized Consultancy

Multidisciplinary collaboration

The potential of Romania in Oil & Gas business

• Enhance Oil Recovery (EOR) (chemical, gas injection and thermal)

• Big potential in Romania due to the existent mature fields

• Heavy Oil – Steam Assisted Gravity Drainage (in the North part of Romania)

• CO2 injection related with the Carbone Capture and Storage (CCS) (in the South part of Romania)

• Exporting the ‘‘Norwegian Model’’: The effect of administrative design on oil sector performance, 2011, Mark C. Thurber et al, Program on Energy and Sustainable Development, Stanford University, Stanford, CA 94305, USA.

• http://www.imf.org/external/pubs/ft/survey/so/2008/pol070908a.htm Norway's Oil Fund Shows the Way for Wealth Funds.

• “The future of Carbon Capture and Storage in Europe” – Public Communications

• www.statoil.com and corporate strategy presentations.

Thank youPower Summit 2013

Remus Hanea

Crossing Energy frontiers

rhane@statoil.com, phone: +4746836687

www.statoil.com