Representative End User Clients
Representative Automation Clients
Representative Software Clients
ARC has been noticing a growing trend among IOCs and even some NOCs that are increasingly taking steps to position themselves as energy companies and no longer just operating as oil & gas companies. Statoil’s board of directors recently proposed to change the name of the company to Equinor. The Norwegian government, as majority shareholder, supports the proposal and will vote in favor of the resolution. The five unions organizing Statoil employees—Industri Energi, SAFE, NITO, Tekna, and Lederne—also support the proposal. The name change is intended to support the company’s strategy and development as a broad energy company.
Equinor name reflects shift in focus for Statoil
The name Equinor is formed by combining “equi,” the starting point for words like equal, equality, and equilibrium, and “nor,” signaling a company proud of its Norwegian origin, Statoil said in a statement. “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,” Statoil’s Board Chairman Jon Erik Reinhardsen said. “For us, this is a historic day. Statoil has for almost 50 years served us well. Looking toward the next 50 years, reflecting on the global energy transition, and how we are developing as a broad energy company, it has become natural to change our name. The name Equinor captures our heritage and values, and what we aim to be in the future,” CEO Eldar Sætre said.
Statoil’s strategy presented in 2017, sets clear principles for the development of a distinct and competitive portfolio. Statoil will develop long-term value on the Norwegian continental shelf, deepen in core areas and develop new growth options internationally. Statoil is one of the world’s most carbon-efficient producers of oil and gas, and will develop its low carbon advantage further. Statoil is building a material industrial position within profitable renewable energy, and expects to invest 15-20% of total capex in new energy solutions by 2030.
ARC seeing growing trend among oil & gas operators positioning themselves as energy providers of the future
ARC realizes, as does Statoil, that owner-operators, whether an IOC or NOC, and independent E&P firms must continue to invest in automation and IIoT-enabled technologies that will help them to thrive in a margin compressed “lower for longer” market that is further exacerbated by the “Great Crew Change”, an increasing reliance on renewable energy and a growing adoption of vehicles not reliant on hydrocarbons.
