Statoil-Annual-Report-1983.Pdf
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Den norske stats oljeselskap a.s Annual report and accounts 1983 - t~ .! —— ~ ~ ~ ~-: ~ - — • — •~~•-•~~ • ~-—~~----- A - - - -~t•- - - -~.. - . ~ ~:~• - . .4 • -- — StOtOil ~k~: E~ - -~--~ ~ - ..,~- ,~. .$•. •- 4~•. ~ .. 4-- Den norske stats oljeselskap a.s Contents The Board of Directors Company Assembly 3 Transfer from Chairman: Chairman: the Statoil Group to Finn Lied, Director Egil Aarvik, Editor the Norwegian society Vice-Chairman: Vice-Chairman: 4 The Statoil Group Fredrik Thoresen, Managing Director Evy Buverud Pedersen, 5 Highlights Thor Andreassen, Managing Director Trade Union Secretary 7 Report of the Board of Benedicte Berg Schilbred, Odd Bakkejord, Trade Union Secretary Directors for 1983 Managing Director Grethe Westergaard-Bjørlo, Teacher 19 Profit and loss statement for Finn T. Isaksen, Managing Director, Bodil Finsveen, Adviser 1983 to 8 June 1983 Egil Flaatin, Director 20 Balance sheet as of 31 Erling Haug, Licence Manager Johan Nordvik, Mayor December 1983 Atle A. Thunes, GBS Manager Martha S~eter, Clerk 22 Comments Bjørn Lian, Section Manager 31 Statoil’s purchase of goods Alternate members: Ama Jørgensen, Economic Coordinator and services Jan Skaar, Director Vidar Thomassen, Systems Engineer 35 Reserves in some important Gerd Schanche, Housewife Lars Bakka, Legal Counsel fields and areas Margaret B. L. Sanner, 36 Exploration and delineation Senior Secretary Alternate members wells in 1983 Hans Jacob Fevang, Planner Alv Jacob Fostervoll, County Governor 37 Survey of Statoil’s interests in Gunnar Langvik, Department Manager Johannes Andreassen, awarded licences Jan Gerhard Thoresen, Administration Manager 38 Survey of the Group’s Procurement Manager Ragnhild Midtbo, Teacher activities in 1983 Jan I. Holm, Marine Adviser 39 Articles of Association Auditor Tine Ihle, Senior Secretary Inger Helen Førland, Senior Engineer Endresen, Kiette & Co., Lars Sund, Staff Engineer State Authorized Auditors Kjell Mork-Knudsen, Systems Manager Victor Jensen, Procurement Officer Trond Eilertsen, Junior Drilling Supervisor Jan Rafdal, Senior Engineer Organisation chart,March 1984 EXECUTIVE COMMIUEE Preaident A John en Sen Exec Vice Pres H Ager-Hanssen Exec Vice Pres Exec Vice Pres Exec Vice Pres J M Huslid J En J Øxnevad SAFETY, QUALITY INFORMATION AND LEGAL AFFAIRS ASSURANCE PUBLIC AFFAIRS Msnag~ 0 J Tveit Manacier W H Olsen Manager J S Middelt RESEARCH AND FINANCE AND PERSONNEL RESOURCES AND DEVELOPMENT ADMINISTRATION ORGANIZATIONAL DEVELOPM. Sen Vice Pres R S Kvamsdal Sen Vice Pres E Etc Sen Vice Pres KE Egeland TECHNOLOGY AND EXPLORATION & REFINING AND TRANSPORT PROJECTS PRODUCTION MARKETING I Sen Vice Pres I Sen Vice PresMBekkeheien I Sen Vice Pres T Espedal Sen Vice Pres J E Sandvlk Cover photo: In 1983 Statoil laid 570 kilometres of pipeline on the sea bed. The Norwegian Trench was crossed in June edthout problems. 2 Transfer from the Statoil Group to society 4~., ~ Petrol tax. etc. NOR million 8000 7000 • ~--k-~1 ~ 6000 5000 4000 Royalties NOK million 3000 8000 Total transfer’ ~ 7000 2000 1000 Taxes NOK million 8000 1983 Total transter ~ 7000 m 1982 1983 — .1 / Provision for dividends NOR million 8000 I 7000 6000 5000 4000 3000 2000 1000 Total transfer is the sum of taxes, royalties, petrol tax. etc. and provision for dividends. 1982 1983 ~ ~ - The Statoil Group The Statoil Group handles the Norwegian Government’s business interests in the oil and gas industry, within exploration, development, production, transportation, refining and marketing. The Group consists of Den norske stats oljeselskap a.s (Statoil), the subsidiaries Norsk Olje a.s (Norol), Rafinor A/S, Statoil Netherlands B.V., two supply base companies in Norway and several marketing organisations abroad. Statoil’s headquarters is in Stavanger. Operational organisations are being developed for Gullfaks in Bergen, and for Statpipe on the island of Karmøy5 and at Tysv~r. Statoil’s activity is decentralised to Harstad, Trondheim ãnd Asker and as of 1984 the company has petrochemical facilities at Bamble The company is involved in supply base activities several places along the coast Norol has its headquarters in Oslo and regional office~ in~C-’ - ~-::. Drammen, Bergen, Trondheim and Tromsø. The con facilities and a great number of petrol stations. N Statoil’s sale of aviation fuel at Copenhagen Rafinor handles the refining activity at Bergen. Statoil is operator for big development tasks rfes sector. The Gullfaks and Statpipe projects1ái~e: total of close to NOK 60 billion. Operation of K/S Statfjord Transport a.s handled by Statoil, and at the beginning~ was operator for 14 production licences. evaluation phases. Together with Norsk Saga Petroleum, Statoil was awarded common.. operatorship for three out of four blocks in the Troll area. Statoil has offices abroad in Hague, London and Beijing ( 1984, subsidiaries for sale of petrochernii products in Sweden, Denmark, Finlánd,~ U.K. France and.West Germany. : (S ..ei — — I Hitbanen ysu nd / ‘T hans ~~ i~ ‘~r bi oeim ; ~ ~ ~ f~f~] ~ ~ ~. :.~-Murchison ~ ~ St o - ~ Gullfaksj ‘~ I — .~ H Id-Sr ) ~ ~ ~ ~ •.~;.j. Os~’ ~ - •~ • , 1•~Iso ~-~: JFrgg • ‘.‘ Heiri~daI~ ~ ~ . ~. ~~ii~I[~J [1 - ,- ;~.--~-. SIâipnerbl~i [] L;:r~i . :~ •.‘..r~ ~ . 4~i ~J .i~j ~ E~i~ j~I .~:.. ~ . .1.4;] •, ~ ~ ~1J~ l~.iP”:.. ~J Q4•.~: •• Tonimeliten II!~~i,aII Highlights Amounts in millions of NOK Profit and loss statement The Statoil Group Statoll 1983 1982 1981 1983 1982 1981 Operating revenue 26305 17495 13979 23909 14883 11891 Operating result 8641 5747 3839 8458 5360 3679 Financial expenditure 1949 2332 1734 1813 2138 1565 Result before year end adjustments 6709 3432 1933 6652 3235 1950 Net income 1368 402 1019 1458 433 1052 Balance sheet The Statoil Group Statoll 1983 1982 1981 1983 1982 1981 Current assets 4456 3886 2849 3559 2943 2044 Investment capital 28134 19661 14397 27114 18706 13485 Current liabilities 9971 6782 4116 9246 6202 3432 Long term debt 15533 11529 8631 14592 10455 7691 Conditional tax-free allocations 3338 2071 1386 3004 1824 1318 Shareholder’s equity 3588 3015 2968 3831 3168 3088 Other highlights The Statoil Group Statoil 1983 1982 1981 1983 1982 1981 Investments 9750 6123 2946 9537 5928 2822 Ordinary depreciation 1 272 859 679 1117 707 531 Shares 2944 2944 2944 2944 2944 2944 Total rate of return* 32.2°/o 32.1% 25.4% Shareholder’s equity* 6O.9°/o 29.8% 53.6% Personnel The Statoil Group Statoll 1983 1982 1981 1983 1982 1981 Number of employees as of 31 Dec. 3534 2933 2645 2300 1660 1362 Salaries and social costs 812 617 471 536 366 250 Definition page 28 \( ; II Report of the Board of Directors for 1983 Introduction 1983 showed good results for the consolidated com panies. The group result was NOK 1,368 million com pared to NOK 402 million in 1982. The operating re suit increased by 50 per cent to NOK 26,305 million. The reason for this increase was primarily a higher production from the Statfjord field and a higher dollar rate than in 1982. The Statfjord field is the group’s most important source of income and the operating income from Stat- fjord represents NOK 12,826 million. The Statoil Group will pay NOK 6,782 million in taxes and toyalties. Dividends for 1983 are suggested at a total of NOK 803 million. In total, this is NOK 7,585 million. Statoil is the operator for two large development projects in the Norwegian sector. The Gullfaks and the kt~~ I P Statpipe projects are on schedule and within budget. ~ “?~ ,y /~ Statoil Development Projects. ~ Gullfaks The Gullfaks field lies in block 34/10, about 180 kilometres west of the mouth of Sognefjorden. Statoil owns 85 per cent and is the field operator. This field is V. 4 Statoil’s first development task. The recoverable reserves of the field are assessed at p. 185 million tonnes of oil and 21 billion cubic metres of gas. Phase I of the field development includes the plat forms Guilfaks A, now under construction, and Gull V.’ faks B, undergoing detailed engineering. Engineering ~;~V and the construction of the Gullfaks A and B plat forms are within schedule and cost budgets. \ The detailed engineering of deck and modules for ~ ~ the A platform started in 1982. All construction con IL ~ tracts, except the one for construction of the loading ~ 0, 7~V buoy, have now been signed. About 85 per cent of the 0.. fabrication and equipment contracts were let to Nor .4.,, wegian industry in fair competition with foreign com / 0 panies. Construction of the concrete structure started in February 1983 and work on the quarters area and several other modules started during the year. The esti 4Vf. ~ mated cost for platform A is NOK 16 billion. Start of / ~ • V production is planned for summer 1987. The conceptual studies of the B platform were fi nished early last year and contracts were signed with the main services contractor and the contractor for pre-engineering. The contract for construction of the concrete gravity base structure was let to Norwegian Contractors. The B platform itself will be simpler than the A platform because the processing capacity of the A platform can be used. Total cost of the B platform is estimated at NOK 12 billion, and it is expected to go on stream in 1989. A field development plan for phase II has been pre As the first platform in the world Guilfaks A will have stainless steel pipes — pared by Statoil and is being evaluated by the Gullfaks an economical investment. The concrete group. A platform of the same kind as Gullfaks A is gravity base structure is being built by planned in the northeastern part of the field, where the Norwegian Contractors in Stavanger. field will be exploited by up to 11 subsea completion wells. The recoverable reserves for phase II are esti mated at 65 million tonnes of oil and 7 billion cubic metres of gas. If the partners and the authorities approve the plans, Left: Sun over Gullfaks A reinforcement.