4C Offshore Empowering Intelligence

Statoil set for name change

4C Offshore | Matthew White
By: Matthew White 14/05/2018 Statoil
On 15th of May 2018, the annual general meeting (AGM) in Statoil ASA will vote on the proposal to change the company’s name, from Statoil ASA to Equinor ASA.

The Company will announce the result of the voting after the AGM on 15 May 2018 and expects to announce the implementation of the name change before 09:00 (CEST) on 16 May 2018.

The change of name and subsequent implementation and change of ticker on Oslo Børs is subject to the AGM’s approval of the name change and formal registration in the Norwegian register of business enterprises (Foretaksregisteret). Based on statements made in support of the name change by the company’s majority owner, the company expects the AGM to approve the proposal to change the company’s name to Equinor ASA.

The proposal to cahnge the company's name was put forth on the 15th of March. The name change supports the company’s strategy and development as a broad energy company.

“The world is changing, and so is Statoil. The biggest transition our modern-day energy systems have ever seen is underway, and we aim to be at the forefront of this development. Our strategy remains firm. The name Equinor reflects ongoing changes and supports the always safe, high value and low carbon strategy we outlined last year,”
says chair of the board in Statoil, Jon Erik Reinhardsen.

Statoil recently announced the laying of the cable supplying Johan Sverdrup with power from shore started last week. This helps make the North Sea giant one of the oil and gas fields with the lowest CO2 emissions worldwide.

On Wednesday last week the cable-laying vessel
NKT Victoria began laying the cables that will supply the Johan Sverdrup field with power from shore.

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