Statoil will boost research on CO2 reduction

By 2020, the Norwegian oil company will direct a quarter of its research funds to the reduction of greenhouse gas emissions as well as digital solutions.

Photo: Roar Lindefjeld/Woldcam - Statoil PR

Statoil is increasing its research efforts in CO2 reduction and digital solutions. From 2020, the oil company will allocate a fourth of its research budget – which last year was NOK 2.6 billion (EUR 275 million) – to investigate ways of reducing the emission of greenhouse gases and digitalization, reports the company in a press release.

"Statoil wants to be in the forefront of the development in the oil and gas industry. Technology and innovation are vital to finding more resources and developing projects, while at the same time reducing costs and CO2 emissions," says Margareth Øvrum, Executive Vice President for Technology, Projects and Drilling, in the statement.

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