The british operations were later sold hydro was the

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Unformatted text preview: ined Elf Aquitaine and six other French companies to form Petronord to search for oil and gas in the North Sea. Hydro soon became a major company in the North Sea petroleum industry, and also became operator of a number of fields, the first being Oseberg. In 1999, Hydro acquired Norway's third largest petroleum company Saga Petroleum, who had major upstream operations primarily in Norway and Great Britain. The British operations were later sold. Hydro was the fourth largest integrated aluminium company worldwide. It had operations in some 40 countries around the world and was active on all continents. The Norwegian state held a 43.8% ownership interest in the company, which employed approximately 28,000 people. The company had a significant presence in oil and gas fields. Norsk Hydro was also a major producer of wind and hydroelectric power. StatoilHydro’s recent developments StatoilHydro joined the USD 30 billion Russian gas project Stockman in the Barents Sea together with Russia's gas monopoly Gazprom and France's Total SA on October 25...
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