Equinor — Capital/Financing Update 2014

Sep 12, 2014

Statoil: Realising value to further strengthen NCS portfolio

Statoil: Realising value to further strengthen NCS portfolio

Statoil ASA (OSE: STL, NYSE: STO) farms down in Aasta Hansteen, Asterix and

Polarled and exits two  assets on the NCS for a consideration of USD 1.3

billion, including contingent payment.

Through this transaction Statoil monetises on the Aasta Hansteen field

development project, while retaining the operatorship and a 51 % equity share.

In addition Statoil exits the non-core Vega and Gjøa fields. The transaction

includes a farm down in four exploration licenses in the Vøring area. The buyer

is Wintershall, a Germany-based energy company and a well-established player on

the Norwegian Continental Shelf (NCS).

"We realise significant value, created through successful asset development. The

transaction increases our flexibility to further strengthen our portfolio," says

Arne Sigve Nylund, president for Development and Production Norway in Statoil.

The transaction consists of a cash consideration of USD 1.25 billion and a USD

50 million consideration contingent on Aasta Hansteen milestones. The accounting

gain from the transaction is expected to be between USD 0.7-0.9 billion and will

be adjusted for activity between the effective date 1 January 2014 and the

closing date.

The transaction releases around USD 1.8 billion of capital expenditure for the

period from the effective date until end of 2020. Statoil's production from the

divested Gjøa and Vega assets in the first half of 2014 is 22.000 barrels of oil

equivalent per day. The transaction includes a transfer of operatorship of the

sub-sea field Vega. The transaction will not involve transfer of personnel.

"We have a strong portfolio of projects. This transaction focuses our NCS

portfolio and further improves our capacity to invest in core areas," says

Nylund.

Statoil will invest around 20 USD billion annually in the period 2014-2016. This

includes NCS project Gudrun which started up April this year, while Valemon will

come on stream towards the end of year. In addition projects like Aasta Hansteen

and Gina Krogh are in the execution phase, while Johan Sverdrup and Johan

Castberg are under planning.  The exploration activity remains high with 50

exploration wells planned globally for 2014.

Statoil and Wintershall have signed an extended agreement to continue

cooperating on EOR efforts and exploration.

The effective date for the transaction is 1 January 2014. Closing is expected

around year end 2014, pending government approval.

Strategic portfolio management

In recent years Statoil has undertaken a series of transactions to position

Statoil as a well-capitalised, technology focused upstream company. Active

portfolio management continues to realise substantial value that is channeled to

further strengthening the company's growth potential. Total proceeds of around

USD 20 billion have been realised through divestments by Statoil since 2010,

including this transaction.

Recent portfolio optimisation activity includes divestments internationally as

well as on the NCS. Last year Statoil divested their holdings in two West of

Shetlands fields, Rosebank and Schiehallion. The same transaction also included

shares in Gullfaks and Gudrun.

Lambert Energy Advisory was financial advisor to Statoil on this transaction.

Overview of transaction

Before the After the Transaction Operatorship

transaction transaction

Gjøa

Production Licenses 5% 0% Full exit Gdf Suez is operator

153 and 153B

Vega Transfer of

Production Licenses operatorship from

248, 248B and 090C. 24.525% 0% Full exit Statoil to

Production is via Wintershall. Subject

subsea tieback to Gjøa to government

installation. approval

--------------------------------------------------------------------------------

Aasta Hansteen

Production Licenses 75% 51% Farm down Statoil is operator

218 and 218 B

Asterix

Production Licenses 70% 51% Farm down Statoil is operator

327 and 327 B

Polarled

The Polarled JV

established under the

"NSGI Joint Venture 50.3% 37.1% Farm down Statoil is operator

Participants"

agreement dated

December 21, 2012.

--------------------------------------------------------------------------------

Exploration license 40% 30% Farm down Statoil is operator

602

Exploration license 35% 25% Farm down Statoil is operator

603

Exploration license 35% 25% Farm down Centrica is operator

528

Exploration license 35% 25% Farm down Centrica is operator

528 B

Statoil ASA is an international energy company with operations in 36 countries.

Building on 40 years of experience from oil and gas production on the Norwegian

continental shelf, we are committed to accommodating the world's energy needs in

a responsible manner, applying technology and creating innovative business

solutions. We are headquartered in Stavanger, Norway, with approximately 23,000

employees worldwide, and are listed on the Oslo and New York stock exchanges.

Wintershall Holding GmbH, based in Kassel, Germany, is a wholly-owned subsidiary

of BASF in Ludwigshafen. The company has been active in the extraction of

natural resources for 120 years, and in the exploration and production of crude

oil and natural gas for over 80 years. Wintershall focuses on selected core

regions where the company has built up a high level of regional and

technological expertise. These are Europe, Russia, North Africa, South America,

and increasingly the Middle East region. The company wants to expand its

business further with exploration and production, selected partnerships,

innovation and technological competence. Wintershall employs some 2,500 staff

worldwide from 40 nations and is now Germany's largest, internationally active

crude oil and natural gas producer.

For more information:

Investor relations

Morten Sven Johannessen, Investor Relations

Tel: +47 909 34 148

Madeleine Lærdal, Investor Relations

Tel: +47 905 25 053

Media relations

Ørjan Heradstveit, Media Relations

Tel: +47 917 78 161

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1855521]