Standing at a new frontier

Statoil presentation NTNU 19 January 2011

CopyrightStatoil 2011.01.01 corporate presentation: Standing at a new frontier

Welcome
Introducing Statoil
Who we are

Key focus moving forward

Statoil 2011

Crossing energy frontiers

Our business strategy and platforms for growth Health, safety and the environment

How we work

Our values Our organisation

Facts and figures

Key figures

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Introducing

Statoil

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Who we are
Energy company present in 34 countries with 20,000 employees Produced 1.96 million barrels of oil equivalent (boe) per day in 2009 (equity production) About 22 billion boe in proven resources (5.4 billion as booked reserves) One of the worlds largest net sellers of crude oil The world's largest operator in waters deeper than 100 metres World leader in carbon storage

The second largest exporter of gas to Europe

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Our business environment

Demand for energy will continue to accelerate as the population and economies in the developing world expands, with fossil fuels playing key role Competition for access to oil and gas resources is sharpening, economically and technologically

Costs of adapting to climate change is set to rise

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Key focus

moving forward

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Building growth from a firm strategy

Harsh environments Deep water Heavy oil Gas value chains

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Crossing energy

frontiers
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Harsh environments

New energy reserves are becoming more difficult to access A larger proportion of the worlds remaining energy sources exist in harsh environments We will leverage our experience and technology position to develop business in these areas

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The Snhvit gas field, Barents Sea

The worlds northernmost liquefied natural gas (LNG) operation

5.1million tonnes of LNG. Production period: 2007-2035

Sub-sea installations at 300m depth. No platforms or production vessels

Gas transferred ashore for processing via 143km pipeline

Snhvit is a carbon efficient energy source

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Deep sea

Reserves at greater depths demand new techniques and technologies For drilling, extraction, pipe-laying and maintenance Long experience of deepwater operations from the NCS Applying this knowledge to release the potential of new projects worldwide

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Operations in the Gulf of Mexico

More than 400 exploration leases in deep water in the Gulf

Attractive portfolio of producing fields and new field developments

Highly advanced technologies 3D seismic data, dynamic positioning, remote control and robotics

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Heavy oil

Heavy oil an important opportunity for Statoil Peregrino project, off coast of Brazil Athabasca oil sands fields, Alberta, Canada Experience in heavy oil production gained from other fields

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Peregrino, Brazil
Statoils largest operatorship outside Norway *

85 km off the coast of Brazil in water depths around 100 meters

Showcases Statoils strengths in extraction and reservoir management

Production is expected to start towards the end of first quarter 2011

* In June 2010 Statoil agreed to sell 40 % of the Peregrino field to Sinochem group. The approval is subject to government approvals in Brazil and China.

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Gas value chain

NCS is the backbone of our gas business Second largest supplier of gas to Europe International gas value chains: shale gas in USA, Algeria in North-Africa, Shah Deniz in Azerbaijan

Natural gas is an attractive long-term source of energy: cost efficient, abundant reserves and with a small carbon print

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Troll A, Norway
Troll A represents 40% of total gas reserves on the Norwegian continental shelf (NCS) Supplying gas to Europe since 1996. Reserves estimated to last 70 years Gas transferred via 65km pipeline to shore for processing Processing on land reduces operating costs Powering the production platform from shore reduces emissions of CO2 and nitrogen oxides

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New energy and carbon efficiency

Our strategy is to have a stepwise growth within renewable energy which we consider a promising growth area Our main focus is on offshore wind power where we add value by using our extensive competence from offshore oil and gas activities We are a world leading CO2 storage operator. Production on NCS 60% more carbon efficient than the world average We are committed to reduce carbon footprint at every production stage

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Sheringham Shoal, UK
The UKs fourth largest offshore wind farm

NOK 10 billion joint venture with Norwegian utility, Statkraft

88 wind turbines over 35 sq km, supplying enough power for 220,000 homes The project started installation of the wind turbines and laying of cables in 2010. The project is scheduled to be finished early 2012

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In Salah, Algeria
Algerias third largest gas processing facility

One of Statoils three world class carbon capture and storage (CCS) projects

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How we

work

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Health, safety and the environment (HSE)

Our ambition is to be the industry leader in HSE. We must therefore improve in this area, and HSE must be the first priority in everything we do. Should a conflict arise, safety must always take precedence over production.
President and CEO Helge Lund

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What we do and how we do it

A values-based performance culture Firm commitment to health, safety and the environment (HSE) Stringent ethical requirements and a code of conduct which promotes personal integrity

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The Statoil organisation

Helge Lund
Stavanger CEO

Chief executive officer

Stein Egil Nss

Stavanger COA

Torgrim Reitan
Stavanger CFO

Tove Stuhr Sjblom

Stavanger CSO

Reidar Gjrum
Oslo CCOM

Corporate audit

CFO organisation

Corporate staffs and services

Corporate communication

ystein Michelsen
Stavanger DPN

Peter Mellbye
Oslo DPI

Bill Maloney
Houston DPNA

Eldar Stre
Stavanger MPR

Margareth vrum
Stavanger TPD

Tim Dodson
Oslo EXP

John Knight
London GSB

Development and Production Norway

Development and Production International

Development and Production North America

Marketing, Processing and Renewable Energy

Technology, Projects and Drilling

Exploration

Global Strategy and Business Development

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Facts and

figures
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Third quarter results

14% increase in liquids prices 8% increase in gas prices
28.3 28.2

17% lower equity production

NOK bn.

13.8 6.6

1Q09 3Q 09

1Q10 3Q 10

Net operating income

Net income

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Quarterly effects on production

Changes 3Q 2009 to 3Q 2010 per category
1,874
~ 60 ~ 90 ~ 1401 ~ 302

1000 boe/d

1,552

1552

Q3 2009
1

Turnaround liquids

Turnaround gas
2

Other

Production permit

Q3 2010

Expected natural decline, Gullfaks C06 well and rig issues, reallocation from 2Q (20 boed), other

Ormen Lange oil and gas impact

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Guiding
2010 Equity production 1.9 million boepd Unit Production Cost at NOK 36-37 per boe Capex and exploration: Capital expenditures ~USD 13bn* Exploration activity ~USD 2.3bn. 2012 Equity production: 2,060 2,160 million boe/d
Ramp up & new fields on stream 2010-2012 Tyrihans Agbami Gja Skarv PSVM Morvin Tahiti Vega Peregrino Pazflor Thunder Hawk Marcellus Vega South Leismer Eagle Ford

Caesar Tonga ph 1
Fast track projects

Kizomba satellites
Marulk

Additional production 2010-2012** 350- 400 boed

*Exclusive of capitalization of financial leases and acquisitions **Estimated full year production 2012 vs. 2010 for ramp up & new fields on stream in 2010-1012

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Standing at a new

frontier
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Statoil is an international energy company with operations in 34 countries. Building on more than 35 years of experience from oil and gas production on the Norwegian continental shelf, Statoil is committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. Statoil is headquartered in Norway with 20,000 employees worldwide, and is listed on the New York and Oslo Stock Exchange. For more information, please visit www.statoil.com

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Thank you
Statoil corporate presentation 2011 Petter Eltvik petell@statoil.com, phone: +47 91 82 09 39
www.statoil.com

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