Middle East Economic Survey

VOL. XLIX

No 52

25-Dec-2006

Statoil/Hydro Merger To Create Significant MENA/Caspian Portfolio

Norways Statoil and Norsk Hydro announced on 18 December a plan to merge the oil and gas operations of the Hydro conglomerate into Statoil. The companies said the combined firm would be the worlds largest offshore operator with a strengthened platform for future growth. While the bulk of the two companies assets are on the Norwegian continental shelf, the merger would create a...