Equinor — M&A Activity 2015

Nov 6, 2015

Statoil ASA: Reduced equity share at Agbami following redetermination

Statoil ASA: Reduced equity share at Agbami following redetermination

Statoil (OSE: STL, NYSE: STO) has received an Expert calculation of revised

tract participations for the Agbami field in Nigeria. Assuming implementation,

this calculation will result in a reduction of 5.17% in Statoil's equity

interest in the field from 20.21% to 15.04%.

Statoil previously initiated arbitration proceedings to set aside interim

decisions made by the Expert. By a decision received by Statoil on 4 November

2015, the arbitration tribunal has declined to set aside the Expert's interim

decisions.

Statoil is currently assessing its position in relation to the Expert's decision

and the decision of the arbitration tribunal.

Statoil has so far made an accrual of NOK 7.5 billion. Assuming implementation

in accordance with the Expert ruling, Statoil will have to compensate other

equity owners at Agbami of about NOK 1.6 billion in addition to the accrual as

of end third quarter 2015. Eventual settlement of any imbalance amount will be

made over time through cash-calls issued by the unit operator.

Contact persons:

Investor Relations

Peter Hutton, senior vice president for Investor Relations,

Tel: +44 7881 918 792

Morten Sven Johannessen, vice president for Investor Relations USA,

Tel: + 1 203 570 2524

Press

Knut Rostad, head of corporate media relations

Tel: +47 905 48 990

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

(Norwegian Securities Trading Act)

[HUG#1964901]