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Vol. 12, No. 46 Week of November 18, 2007
Providing coverage of Alaska and northern Canada's oil and gas industry

THE EXPLORERS 2007: Statoil Hydro enters Alaska; Ken Boyd ‘man on the ground’ for mega-major

In mid-2007, Norsk Hydro USA hired Ken Boyd as a consultant in Alaska. Jim Meek, manager of business development for the Houston-based affiliate of Norway’s Hydro which merged in October 2007 with Norway’s Statoil to become Statoil Hydro, said Boyd would be the company’s “man on the ground” in Alaska, attending local meetings and events and assisting the mega-major in its “evaluation” of the state as a place to make oil and gas investments.

Neither Norwegian firm had assets in Alaska prior to the merger, but Meek did confirm that Norsk Hydro had joined both the Alaska Oil and Gas Association and the Resource Development Council for Alaska. Boyd was Alaska’s deputy director of the Division of Oil and Gas for five years and director for six years, leaving the director’s post in 2001 to become a consultant.

Statoil Hydro is the world’s largest offshore operator, followed in order by Royal Dutch-Shell, Petrobras, BP, ExxonMobil, Woodside Energy, Chevron, Total, Eni, Hess and ConocoPhillips.

The Norwegian State holds about 62.5 percent of the merged entity.

Statoil Hydro has Arctic oil and gas interests offshore Norway. Prior to the merger Statoil said it was largely motivated by both companies’ desire to expand outside Norway, where the competition for offshore acreage is intense amid high oil prices.

—Kay Cashman



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