Statoil –In position for the future

Helge Lund, President & CEOCapital Markets Update8 June 2005

Nils Harald SellevoldKollsnes, October 2005

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A strong industrial platformShort on history – long on achievements

• Production (2004): 1.1 mmboepd

• Reserves (2004): 4.3 bn boe

• 24,000 employees in 30 countries

• Operating 2.7 mmboepd (60%)of Norway's production

• World’s 2nd largest subsea operator

• Marketing 2/3 of Norway's gas volumes

• World’s 3rd largest crude oil seller

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Leadership to drive HSE performance The trend is improving – the goal is zero!

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5

10

15

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1987 1991 1995 1999 2003

Lost time injury frequency1987-2005

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Operations in 30 countries

Saudi Arabia

Turkey

Kazakhstan

United ArabEmirates

Algeria

Denmark

Nigeria

Norway

Brazil

IrelandBelgium

France

Sweden

UK

PolandGermany

Russia

Azerbaijan

Angola

Mexico

USA

Singapore

Iran

Lithuania

LatviaEstonia

Venezuela

Libya ChinaQatar

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Largest operator on the NCS

A world-class oiland gas province

Statoil operates:

•48% of Norway’soil production

•82% of Norway’sgas production

•22 oil and gas fields

Harstad

Stjørdal

Bergen

Stavanger

Core areas OfficesFields operated by Statoil

Halten/NordlandGrowth area

TampenMatured area

Troll/SleipnerGas machine

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Long term development on the NCSAggressive strategy for continued growth

• High activity in 1H 2005:

– Two new fields on-stream

– Nine project sanctions

– Six discoveries from ten wells

– Reached important milestones in key projects

– Attractive acreage in 19th licensing round

Tampen

Troll/ Sleipner

Tromsøflaket

Stjørdal

Hammerfest

Stavanger

HaltenNordland

Bergen

Harstad

Discoveries

Core areas

Offices

Statoil-operated fields

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Natural gas:

Solid market position•Rising exports and

big reserves close to the main market

•Covers 10 per cent of European consumption

•Delivers to the USA and 13 countries in Europe

•Gas deliveries from Algeria and Azerbaijan

Statoil of total (%)

Country

Germany

France

Belgium

Czech Rep

Italy<5%

Turkey

Ireland

Austria10-15%

Netherlands

Spain5-10%

UK

~20%

Estimated market position in 2007 based on current contracts*

*Statoil incl. SDFI

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Mobilising for long term gas growthDoubling gas production towards 2015

Barents Sea

Middle East

Venezuela

North America Asia

EuropeCaspian

North Africa

Nigeria

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Snøhvit LNG breaks new ground Europe's first LNG project – new markets for Arctic gas

Complete subsea development

The Cove Point terminal

The Melkøya LNG plant

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A world class pipeline system

•Export pipelines to Germany, Belgium, France and the UK

•High regularity and great flexibility

•Statoil is technical operator for 6,000 kmof pipeline

Nyhamna

Europipe II

Europipe I

Norpipe

Emden

Teesside

ÅTS

Norne

Åsgard

Haltenpipe

Heidrun

Franpipe

Zeebrugge

Zeepipe I

St Fergus

Vesterled

Frigg

Statfjord

Kårstø

Kollsnes

Melkøya

Snøhvit

Ormen Lange

Easington

Langeled

Ekofisk

Sleipner

Troll

Dunkerque

Kristin

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Troll:North Sea gas giantTroll A platform:

• 472 metres high

• Stands in 302 metres of water

• Delivers 27 per cent ofStatoil’s equity production

The Field:

• Contains 47 per cent ofNorway’s gas reserves

• Gas on stream in 1996

• Can deliver for 60-70 years

• Is also a major oil field

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Troll Gas Plant Kollsnes• Process capacity for gas plant:

• Gas: 120 Mill. Sm3/day

• Condensate: 7000

Sm3/day

• Condensate is sent to

Vestprosess at Mongstad.

• Gas is exported to Europe

through two pipelines, Zeepipe

IIa via Sleipner and Zeepipe Ilb

via Draupner.

• Some gas is also delivered to

Kollsnes Næringspark for local

distribution to:

• Haukeland University

Hospital

• Buses/private cars

• Housing

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Creating values through integration

Mongstad

KollsnesTroll

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Many ongoing and future Troll gas projects

New NGL extraction

facility (2004)

6. compressor(2006)

Troll precompression(2005)

Compressor no. 3 & 4 in 2010 - 20

Troll vest gassprovins

Troll West gas province2010+

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Achieving the technology goalsDeveloping technology capabilities

Efficient operation

of Statoil assets

R&DSuppliers and

academia

Learningby doing

Learning from partner-operated

joint ventures

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Conclusion: We do it together!