DTZ has been chosen as a partner by Statoil Fuel & Retail to support the development of a real estate asset management strategy across its broad retail network.

The global real estate services firm will advise the Scandinavian road transport fuel retailer on its real estate portfolio which includes 2,300 petrol stations and 12 key port locations across Scandinavia, Poland, the Baltics and Russia.

But the UK is "not within the scope of instruction at the present time", according to DTZ’s Birmingham-based international petrol filling station valuation expert, Gary Stephens.

Stephens will provide specialist sector knowledge to support the firm’s local teams. Gary has previously headed up the valuation teams on large portfolio instructions in the region including projects in Finland for Nestle Oil and Norway for Chevron.

Stephens said: “This is a fantastic result. It builds upon our sector expertise in fuels retail and brownfield sites which is allied with strong market coverage. It demonstrates our ability to deliver unrivalled solutions combining deep local knowledge with global expertise. We look forward to helping Statoil Fuel & Retail to optimise its real estate portfolio.”

DTZ will work jointly with Citigroup on the mandate, which will provide a finance market perspective on the development of options for Statoil’s asset management strategy.

Klaus-Anders Nysteen, CFO Statoil Fuel and Retail, said: “By sharing our mandate with DTZ and Citi, we are confident we will capitalise on the value of the specific real estate knowledge and local presence of DTZ and Citi’s financial expertise. This will be our first in a series of balance sheet optimisation processes.”