Equinor — Board/Management Information 2015

May 12, 2015

Statoil announces changes in corporate structure and top management team

Statoil announces changes in corporate structure and top management team

Statoil (OSE:STL, NYSE:STO) appoints new Chief Financial Officer (CFO), and

launches business area for New Energy Solutions (NES). Three new Executive Vice

Presidents (EVPs) are appointed as members of the Corporate Executive Committee

(CEC).

CFO Torgrim Reitan is appointed EVP for Development & Production USA (DPUSA)

after Bill Maloney decided to not prolong his contract with Statoil. Hans Jacob

Hegge is appointed new EVP and CFO. Hegge comes from the position as senior vice

president for Operations North in Development & Production Norway.

Irene Rummelhoff is appointed EVP for New Energy Solutions, and Jens Økland new

EVP for Marketing, Midstream & Processing. Rummelhoff and Økland starts in their

new positions 1 June 2015. Reitan and Hegge will start in their new positions 1

August 2015.

"I am glad that Torgrim Reitan has accepted the opportunity to lead DPUSA, and

pleased to welcome Hans Jakob Hegge, Irene Rummelhoff and Jens Økland as new

members of my management team. Their deep and broad experience brings renewal to

the CEC addressing our future challenges", says Eldar Sætre, president and CEO

of Statoil.

The new DPUSA will further focus  the effort to strengthen the profitability of

our offshore assets in Gulf of Mexico and US onshore shale oil and gas

operations. In combination, the offshore and onshore activities in the USA give

Statoil a strong position in the world's largest, integrated energy market.

Statoil's offshore and onshore business in Canada becomes part of the business

area Development & Production International (DPI). The Canada-activities adds

materiality and longevity in the DPI-portfolio, and provides further

opportunities to create synergies with offshore activities in Brazil, the UK and

Tanzania.

"I am grateful to Bill, who joined Statoil in 2002 as head of global

exploration. Leading our North America business since 2010 he has been

instrumental in maturing our GoM portfolio and building Statoil's position as

onshore operator," says Sætre.

The transition of the global energy systems to a low carbon society creates new

business and growth opportunities within renewables and new energy solutions.

Statoil will establish a new business area for New Energy Solutions (NES) to

drive further profitable growth within these areas.

Establishing NES as a separate business area reporting directly to the CEO

reflects the aspirations to gradually complement the oil and gas portfolio with

profitable renewable energy and other low-carbon energy solutions. A more

detailed plan for the business will be developed as an integrated part of

Statoil's strategy.

The development of the energy systems open opportunities to create new

profitable solutions, combining Statoil's oil and gas portfolio, project

delivery capacity and ability to integrate technological solutions. As a

starting point the existing offshore wind portfolio will constitute our

activities in this area.

The ambition is to grow and potentially expand into other sources of renewable

energy, while also considering appropriate financial structures. The business

area will seek new opportunities to deliver attractive returns through

technology and business innovation, as well as venture activities.

Irene Rummelhoff has been appointed EVP to lead the development of the business

area. Rummelhoff comes from the position as senior vice president for

Exploration Norway in Statoil.

Jens Økland has been appointed EVP and will head up the new Marketing, Midstream

& Processing business area (MMP). The renewable business is carved out of the

previous Marketing, procession and Renewable energy business area (MPR). Acting

EVP for MPR since October 2014, SVP Tor Martin Anfinnsen will take the position

as SVP Marketing and trading in MMP.

"I thank Tor Martin, who took on the challenge at short notice and has led MPR

effectively during a time of considerable change," says CEO Eldar Sætre.

Background information on appointees

Torgrim Reitan has been appointed executive vice president (EVP) for Development

& Production USA. He assumes his new responsibilities from 1 August 2015 and his

office location will be Houston.

Reitan has 20 years of Statoil experience. He has broad and diversified

leadership experience, both in Norway and internationally. During his five years

as CFO Reitan was a driving force in supporting the business areas' strategy

development, performance and improvement agenda. In the Corporate executive

committee (CEC) , Reitan took early moves to address the key challenges of our

industry, reducing cost and increasing capital efficiency through corporate

improvement programs to strengthen Statoil's overall competitiveness and value

creation.

Reitan holds a MSc. degree in Business from Norges Handelshøyskole, 1995.

Hans Jacob Hegge will succeed Reitan as EVP and CFO from 1 August 2015, located

in Stavanger. Hegge is currently senior vice president for Development &

Production (DPN) Operations North, based in Harstad, Norway.

Hans Jakob Hegge bring 20 years of experience from Statoil, and has delivered

consistent leadership to drive change and efficiency, including the recent

successful turnaround of operational performance at the Snøhvit plant in his

current role. Heading up Joint Operations and Operations East in DPN, he had a

leading role in the implementation of the new operating model after the merger

with Norsk Hydro's oil and gas division.

Prior to this Hans Jakob worked in Statoil's Natural gas business, and later led

the development of Global Business Services (GBS) from 2005 to 2009. Hegge's

experience will be important for the CFO function going forward, transitioning

Statoil to an even more efficient company and developing the global footprint.

Hegge holds a MSc degree in Business from Norges Handelshøyskole, 1994.

Irene Rummelhoff has been appointed as EVP of the New Energy Solutions (NES)

business area from 1 June 2015. Her office location will be in Stavanger. Since

January 2014 she has been SVP for Exploration Norway.

Rummelhoff has extensive commercial experience and broad value chain knowledge

from her career in Statoil since 1991, particularly in the area of business

development and Natural Gas.

The new business area will focus on developing commercial sources of alternative

energy, as well as looking at investments in proven alternative and renewable

energy. Rummelhof has seven years of international experience, heading up the

strengthening of our asset base in North America, including the acquisition of

Brigham Exploration Company in 2011.

Rummelhoff holds a MSc. degree in Geology/Geophysics, Norwegian University of

Science and Technology,  1990.

Jens Økland has been appointed EVP for the Marketing, Midstream & Processing

(MMP) organisation from 1 June 2015. His office location will be in Stavanger.

Jens Økland brings 21 years of experience from Statoil, mainly in the downstream

sector. He was previously senior vice president in MPR where he was responsible

for Portfolio and Supply and US Gas in MPR Natural Gas.

In 2013 he moved to DPN to the position as VP of Operations for the Åsgard area.

His extensive experience in the downstream sector and varied exposure to both

international and operational areas of the business gives him a strong

background to lead the new MP organisation and as a member of the CEC.

Økland holds a MSc. degree in Business from Handelshoyskolen BI, 1994

Further information from:

Investor relations

Peter Hutton, Senior vice president Investor relations, +44 7881 918 792

(mobile)

Press

Jannik Lindbæk jr., Vice president Media relations, +47 977 55 622 (mobile)

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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