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March 21, 2014
07:16 EDTSTOStatoil added 1.25B barrels of oil equivalent from exploratoin 2013
Reports production of 723,000 barrels of oil equivalent per day in 2013 with divestments taht generated revenues of more than $4B and a reduction in the serious injury frequency to 0.8 per million hours worked in 2013 compared to 1.0 per million hours worked in 2012.
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June 16, 2015
05:58 EDTSTOStatoil says to cut 1,100-1,500 permanent employees by end of 2016
The effort to standardize, simplify and increase efficiency across Statoil enters the next phase. The potential workforce reduction is estimated at 1,100–1,500 permanent employees by end 2016. In addition Statoil will further reduce the number of consultants by around 525. The estimate for workforce reductions reflects the STEP efficiency potential and further corporate improvements over the coming 18 months. "We regret the need for further reductions, but the improvements are necessary to strengthen Statoil’s competitiveness and secure our future value creation," says Anders Opedal, EVP and COO in Statoil. The improvement programme and strict capital expenditure prioritization was initiated in 2013, addressing the industry wide cost and competitiveness challenge, well ahead of the current downturn. Since end 2013 the workforce has been reduced by 1,340 permanent employees and 995 external consultants. The reductions are achieved through more limited use of consultants, attrition, internal deployment into new positions, severance packages and early retirement. Recruitment has been very limited, but the company has upheld its focus on recruiting apprentices and graduates. The implementation of the improvement agenda continues in coming weeks and months. The changes and actions from STEP have been decided after consultation with the employees’ representatives, and these will now be handed over to the Business Areas for implementation. Statoil has committed to delivering $1.7B in annual savings from the improvement program in 2016, and beyond.

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