On 1st October 2007, StatoilHydro was created from the merger between Statoil and the oil and gas arm of Norsk Hydro, another major Norwegian company. StatoilHydro engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products. It is involved in the exploration, development, and production of crude oil and natural gas in Norway and internationally, as well as extraction of natural gas liquids. The company also transports and markets natural gas and natural gas products. In addition, it engages in petroleum refining operations; and marketing crude oil and refined petroleum products.