Equinor - Major Shareholding Notification 2016

Statoil announces acquisition of minority shareholding in Lundin Petroleum

Statoil ASA (OSE: STL, NYSE: STO) has acquired 37,101, 561 shares in Lundin

Petroleum AB (publ.), corresponding to 11.93 percent of the shares and votes, at

a total purchase price of approximately SEK 4.6 billion. The investment in

Lundin Petroleum will increase Statoil's indirect exposure to core assets on the

Norwegian Continental Shelf ("NCS").

"We consider this a long term shareholding. The Norwegian Continental Shelf is

the backbone of Statoil's business, and this transaction indirectly strengthens

our total share of the value creation from core, high value assets on the NCS, "

says Eldar Sætre, president and CEO of Statoil ASA.

Statoil is continuously looking to enhance value creation. In recent years

Statoil has farmed down in certain mature assets on the NCS to realize value for

new investments. Through the acquisition of shares in Lundin Petroleum, Statoil

increases its exposure to core field development projects and growth assets on

NCS, including Johan Sverdrup and Edvard Grieg at attractive values. The

investment underpins Statoil's long term interest and commitment to the future

of the NCS.

Lundin Petroleum has over the last decade successfully built a strong portfolio

on the NCS, and internationally in Malaysia, and France. The company had 187.5

million barrels of oil equivalent of reserves at the end of 2014. From 2002 to

2014 it increased its reserves base four fold, and produced 24,900 barrels of

oil equivalent per day in 2014. In 2015 it has booked net 2P reserves of 515

million barrels of oil equivalent for the full field development of Johan

Sverdrup, based on its 22.60 percent working interest.

Statoil is supportive of Lundin Petroleum's management, its board of directors

and the strategy. There is no plan to increase Statoil's shareholding in the

company.

Further information:

Investor relations:

Peter Hutton, senior vice president Investor Relations

Tel: +44 7881 918 792

Press:

Bård Glad Pedersen, vice president Media Relations

Tel: +47 918 01 791

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

(Norwegian Securities Trading Act)

[HUG#1978781]

AI assistant