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Norsk Hydro Asa: Companys
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Norsk Hydro ASA and Statoil ASA announced that the merger of two companies is expected to be completed October 1, 2007. In connection with the merger the following key dates have been established relating to the trading of the Norsk Hydro-share on the Oslo Stock Exchange. September 28, 2007, is expected to be last date the Norsk Hydro-share trades inclusive the right to receive shares in StatoilHydro. October 1, 2007, is expected to be the first date the Norsk Hydro-share trades exclusive the right to receive shares in StatoilHydro. Consequently this will ... be the first date the merged company StatoilHydro trades on Oslo Stock Exchange. October 3, 2007, is expected to be the record date which the Norwegian Central Securities Depository uses to distribute the StatoilHydro shares to Norsk Hydro's shareholders.
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Norsk Hydro's research center in Bergen is developing and testing different methods of imaging and working on a large variety of technical services for oil and gas production. In addition to data sets of the North Sea, the energy company is exploring Eurasia and Angola; data from Libya has recently arrived. For its continued international expansion, Norsk Hydro selected an SGI® Altix® 3700 Bx2, with 40 Intel® Itanium® 2 processors and 96GB memory; it is connected to their CAVE, with a virtual reality (VR) environment originally designed on SGI systems and now available as a VR software package from Schlumberger. The CAVE runs on a previously purchased Silicon Graphics® Onyx® 3000 visualization system with five graphics pipes. Installed in May, the SGI Altix system is currently running Paradigm GeoDepth® tools for 3D tomography and migration velocity analysis on data acquired in the Gulf of Mexico.
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Norsk Hydro ASA (Hydro) is an international energy company. The Company develops, produces and supplies oil, gas and hydropower, and manages energy trading and transport operations. Hydro is a global aluminium supplier with primary metal production in Europe, Canada and Australia and a network of remelt facilities. It is a supplier to the building industry, especially in Europe, and of rolled products to the packaging and graphics industries. It is headquartered in Norway and employs 33,218 people.
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Norsk Hydro was founded in 1905 by Norwegian entrepreneurs Sam Eyde and Kristian Birkeland as Norsk Hydro-Elektrisk Kvaelstofaktieselskap (Norwegian Hydro-Electric Nitrogen Corporation). Originally, the company exploited the hydro-electric resources of waterfalls to generate electricity used in the production of nitrogen fertilizers. Initial output was mostly limited to Scandinavian markets until after World War II, when the Norwegian government took a 48 percent stake in the company and ushered in an era of multinational expansion and diversification. In 1969, the company name changed to Norsk Hydro A.S. By the 1990s, the company's size justified a decentralized organization plan grouping the company into four business segments, each serving as the strategic and financial center for its composite divisions: agriculture, oil and gas, light metals, and petrochemicals. Combining these segments with a growing number of other activities--from alginate production to pharmaceutical research, seafood, and insurance--Hydro proved that its origins in fertilizers laid fertile ground for almost a century of lush business growth.
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Norsk Hydro is a Fortune 500 energy and aluminium supplier with 35,000 employees operating in more than 40 countries. The Norwegian-based company is a leading offshore producer of oil and gas, the world’s third-largest aluminium supplier and a leader in the development of renewable energy sources. Norsk Hydro Canada Oil & Gas Inc., a wholly owned subsidiary of Norsk Hydro ASA, has been active on Canada’s East Coast offshore petroleum areas since 1996. Offshore Newfoundland, the company holds interest in Hibernia and Terra Nova and has a 10-percent in the Hebron/Ben Nevis fields. It ... has working interest in five exploration licences (ELs 1049, 1057, 1064, 1092, 1093), with 181,947 hectares net to Hydro), five production licences and 29 significant discovery licences. Offshore Nova Scotia, it has interest in five exploration licences on the Scotian Shelf (ELs 2377, 2398, 2403, 2404, 2411) with 485,997 hectares net to Hydro.
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Norsk Hydro ASA is the largest public industrial company in Norway, with operations in three core areas: oil and energy, light metals, and agriculture, such as agricultural chemicals. Fertilizer ranks as the company's leading product, but revenues from oil and gas contribute almost half of the company's profits. Norsk Hydro's light metals division is involved with the manufacture of aluminum and magnesium, and the company is a leading producer of PVC pipe in Scandinavia and the United Kingdom.
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