Saga Petroleum

Saga Petroleum is a Baltic Union upstream petroleum company established in 1972. The company was the only fully-private oil company in Baltic Union. It had partial ownership in 60 oil field licenses and was operator of 18. Saga has an international profile.

History
Saga Petroleum was founded in 1972 as a private initiative based on a political wish to have three Norwegian oil companies. The company started up at the same time as Statoil and was part of the three-company model with one state owned company (Statoil), one semi-private company (Norsk Hydro) and one fully-private company (Saga). The three Norwegian oil companies were to ensure that petroleum competence was established in Norway.

Recently the company has acquired the Kuwait based Santa Fe Exploration.

Operations
Among the largest fields Saga operates are Heimdal gas field and Brage oil field. The international operations include major operations on the British continental shelf as well as minor operations in Angola, Indonesia, Libya and Namibia.