In addition to the shortage of engineers oil and gas

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ts. More than 260 projects have been funded since 1990. It also hosts an annual Supplier Day, where the CEO of Statoil presents the innovation strategy to all suppliers. Seadrill is an example of a Norwegian Statoil supplier that has managed to innovate and internationalize. Seadrill has grown net income from $226 million in 2006 to $1.6 billion in 2010. 66% of Seadrill’s revenues come from outside of Norway. Its number 1 customer is Petrobras in Brazil, while Statoil is number 2. The case of Seadrill highlights the challenge relating to Norwegian taxes. Although Seadrill’s operational headquarters are in Stavanger, Norway, its headquarters for tax purposes are in Bermuda. Out of the 60 companies listed in the Energy Index on the Oslo Stock Exchange, 6 are “Norwegian” oil and gas supplier companies that are headquartered in a tax haven. Statoil also aims to develop suppliers outside of Norway through “build[ing] offshore clusters,” with a specific focus on the US Gulf of Mexico, Brazil, Azerbaijan, and Angola. The oil & gas cluster in Norway 23 Statoil works as a classic keystone, a hub that “motivates the development of new capabilities, processes, and technologies” (Iansiti, 2004). In its efforts to internationalize its revenue base, Statoil “invest[s] in the development of sustainable and competitive local companies. We support the development of expertise in local communities and among our suppliers and contractors in order to build up lasting expertise and help them to develop the standards and certification schemes required for work in the oil and gas industry” (Statoil, 2012). Closer to home and capitalizing on its Arctic operational competences, Statoil has a 35% share in ProBarents, a supplier incubator program aimed at developing a local supplier base in Northern Norway and Murmansk, Russia. As...
View Full Document

This document was uploaded on 03/30/2014.

Ask a homework question - tutors are online