Statoil: Still Looking For A Preferred Oil Services Supplier

LONDON -(Dow Jones)- Norway's Statoil ASA (STO) Friday said it is still looking for a preferred oil services supplier. Speaking at Statoil's annual meeting with its suppliers, head of procurement Anders Opedal said: "The position as our preferred supplier is still open. There are currently no suppliers who provide consistent, high quality deliveries to every project." "The supplier who is able to improve and provide the best deliveries every time will become our preferred supplier." Opedal also said the whole industry's drive to cut costs "has given good results." Earlier this autumn, Opedal told Dow Jones Newswires that Statoil was preparing a big maintenance and modification contract for its Norwegian fields and plants, news welcomed by suppliers in an industry that has stalled in the past year. Oil companies have reined in their spending amid lower oil prices and tough credit markets, but there are signs that some are picking up the pace of investment again. Statoil said it plans to maintain its level of investment. Some bodies, including state-owned Petoro, have criticized the company for not prioritizing profitable Norwegian projects as Station strengthens its financial discipline. Company Web site: www.statoil.com -By Elizabeth Adams, Dow Jones Newswires; +44 (0) 20 7842 9386; elizabeth.adams@dowjones.com