Tom
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Junior Panelist
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Statoil (Carbon sequestration) - 2007/01/09 00:01
Statoil ASA, is headquartered in Stavanger, Norway and is focused on Norway's share of North Sea oil and natural gas. It is a "good company" because of its carbon sequestration efforts. Statoil's Sleipner field in the North Sea is considered by many to be a prospective model for artificial sequestration of carbon dioxide.
As excessive carbon dioxide is the heart of the problem (with CO2 being 30% higher than historical maximums), a company that can keep it out of the atmosphere and possibly suck it out of the atmosphere qualifies as a "good company."
Artificial sequestration (artificial in that it is not part of the natural carbon cycle) is different from sinks which use photosynthesis to safely store the carbon in oceans and plants.
Statoil ASA operates in 33 countries, has approximately 1.8 billion barrels of oil, condensate and LPG, and 14.2 trillion cubic feet of gas, for a total of 4.3 billion barrels of oil equivalent. For comparison, the US as a whole has a proved reserve of 29.3 billion barrels of oil (source: Reuters and BP 2006 statistical review).
In 2005 Statoil expanded to the Gulf of Mexico when it acquired the deepwater portfolio from the Canadian company, EnCana.
Cheers,
Tom |
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