 In 2005 Statoil ventured into deepwater oil production in the Gulf of Mexico.In November 2008, Statoil paid $3.375 billion for a 32.5% interest in 1.8 million net acres of oil and gas leases in the Marcellus Shale gas trend in the Appalachian Basin.Statoil's production offices are located in Houston while a trading office for crude oil and refined products is located in Stamford, a suburb of New York City.