Statoil, the Norwegian State Oil Company, was formed in 1972 and two years later the Statfjord field was discovered in the North Sea. In 1979, the Statfjord field commenced production, and in 1981 Statoil was the first Norwegian company to be given operator responsibility for a field, at Gullfaks in the North Sea. At the time of the merger, Statoil was operator for 39 oil and gas fields on the Norwegian continental shelf.
On October 1, 2007, Statoil and Hydro merged to become StatoilHydro a reality after the plan for the merger was announced between Statoil and Hydro's oil and gas division on December 18, 2006. The Norwegian parliament, the Storting, approved the merger plan in June 2007, and the new company has both the size and the strength to expand internationally.
StatoilHydro is a Fortune 50 integrated oil and gas company based in Norway, the leading operator on the Norwegian continental shelf, and an expanding international company.