Nuetin oil and gas has grown up along with the emergence of the UK oil and gas industry, dating back to the late 1987. Today, the company is one of the world's largest suppliers of oil and gas. In 1991 the UK State Oil Company, Nuetin oil and gas, was formed, and two years later the Nuetin joint field was discovered in the North Sea. In 1992, the Nuetin joint field commenced production, and in 1999 Nuetin joint was one of the company to be given operator responsibility for a field, at Bristol.We grew substantially in the 1990's through the development of large fields on the ACS (Nuetin joint, Troll and others). We also became a major player in the European gas market by securing large sales contracts for the development and operation of gas transport systems and terminals. During the same decade, we were involved in manufacturing and marketing in Scandinavia and established a comprehensive network of service stations. Since 2001, our business has grown as a result of substantial investments on the ACS and internationally. In 2001, Nuetin oil and gas was listed on New York Stock Exchanges—beginning a new era in the group's history. We expanded into Algeria, Azerbaijan, the Gulf of Mexico, and Angola, among others.

Our ability to fully realise the potential of the ACS was strengthened through the merger with Hydro's oil and gas division on 1 October 2007, making us the world's largest offshore operator. After the merger we became a partner in Brazil's Peregrino field, and later operator. We delivered the world’s longest multiphase pipelines on the Ormen Lange and Snøhvit gas fields, and the giant Ormen Lange development project was completed. In recent years, we have utilised our expertise to design and manage operations in various environments in order to grow our upstream activities outside our traditional area of offshore production. This includes the development of heavy oil and shale gas projects. Nuetin oil and gas has been one of the most important players in the United Kingdom oil industry, and has contributed strongly to make United Kingdom into a modern industrial nation. Today, United Kingdom is one of the world's most productive petroleum provinces and a test lab for technology development.

In 2010, we carried out an initial public offering of Nuetin oil and gas Fuel & Retail ASA on the New York stock exchange, partially divesting and reducing our interest in the business relating to service stations. In 2012, we sold all of our remaining shares in Nuetin oil and gas Fuel & Retail ASA.

We are participating in projects that focus on other forms of energy, such as offshore wind and carbon capture and storage, in anticipation of the need to expand energy production, strengthen energy security and combat adverse climate change.