Equinor — Share Issue/Capital Change 2010

Sep 23, 2010

Statoil confirms intention to list Statoil Fuel & Retail ASA on the Oslo Stock Exchange

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO

THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN

Statoil ASA (OSE:STL, NYSE:STO) confirms its intention to proceed with an

Initial Public Offering ("the Offering") of the ordinary shares in Statoil Fuel

& Retail ASA (SFR). An application was filed with the Oslo Stock Exchange on 1

September 2010 for the ordinary shares of Statoil Fuel & Retail to be admitted

to the main list on the Oslo Stock Exchange. Subject to the relevant approvals

from the Oslo Stock Exchange and to market conditions, the Offering is expected

to price during October 2010.

The Offering will comprise existing shares being sold by Statoil. The shares

will be offered to institutional investors in Norway and internationally, to

eligible employees in Norway, Sweden and Denmark and in a retail offering to the

public in Norway.

Statoil intends to remain a majority shareholder of Statoil Fuel & Retail at the

time of the Offering and listing. The size and time horizon of Statoil's future

ownership in Statoil Fuel & Retail will be tailored to support and develop

company value both for Statoil Fuel & Retail and for the Statoil Group.

ABG Sundal Collier Norge ASA and Citigroup Global Markets Limited are acting as

Joint Global Co-ordinators and Joint Bookrunners, Merrill Lynch International is

acting as a Joint Bookrunner, Nordea Markets (a part of Nordea Bank Norge ASA)

is acting as Retail Lead Manager and Senior Lead Manager, while Barclays Capital

PLC and Carnegie Investment Bank AB are acting as Co?Lead Managers.

Rothschild and Arctic Securities are acting as financial advisers to Statoil.

Further announcements relating to the Offering will be made in due course.

For further queries, please contact:

Jannik Lindbæk, VP media relations, Statoil ASA,

Tel: +47 977 55 622

ABOUT SFR

Statoil Fuel & Retail is a leading Scandinavian road transportation fuel

retailer with over 100 years of operations in the region and leading market

share positions in both the full-service fuel station segment, which includes a

fuel station convenience offering, and automated fuel station segment of the

Scandinavian market.

In addition to its core Scandinavian business, Statoil Fuel & Retail entered the

Central and Eastern European region two decades ago and has established a strong

presence in Poland, Latvia, Lithuania and Estonia.

In Russia, Statoil Fuel & Retail has a strong position in the fuel retail market

in the Murmansk region and enjoys a growing presence in the St.

Petersburg/Leningrad and Pskov regions. Statoil Fuel & Retail also sells

transportation fuel on a wholesale basis to B2B customers and is involved in the

sale of stationary energy (mainly, heating oil, kerosene and LPG) and marine

fuel (marine gasoil and heavy fuel) as well as aviation fuel, lubricants and

chemicals.

As of 30 June 2010, Statoil Fuel & Retail had an extensive retail network of

2,290 fuel stations across its eight countries of operations. 1,782 of these

fuel stations are located in Scandinavia and 508 are located in Central and

Eastern Europe. Statoil Fuel & Retail directly employed 9,256 people on a

full-time equivalent basis as of 30 June 2010. In addition, over 10,000 people

are employed at Statoil-branded franchisee stations.

In 2009, Statoil Fuel & Retail sold approximately 8 billion litres of gasoline

and diesel through its network of full-service and automated stations and on a

wholesale basis. In 2009 the revenues of the SFR group of companies were NOK

57,277 million.

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This press release does not constitute an offer to sell or the solicitation of

an offer to buy any securities of Statoil Fuel & Retail. The securities

mentioned herein have not been, and will not be, registered under the United

States Securities Act of 1933, as amended (the "Securities Act") and may not be

offered or sold in the United States except pursuant to an exemption from the

registration requirements of the Securities Act.

Matters discussed in this document may constitute forward-looking statements.

These forward-looking statements are based upon various assumptions. Although we

believe that these assumptions were reasonable when made, these assumptions are

inherently subject to significant known and unknown risks, uncertainties,

contingencies and other important factors that are difficult or impossible to

predict and are beyond our control.

Such risks, uncertainties, contingencies and other important factors could cause

the actual events to differ materially from those expressed or implied by such

forward-looking statements. No representation is made that any of these

forward-looking statements will come to pass and you are cautioned not to place

any undue influence on any forward-looking statement. We do not undertake to

publicly update or revise any such forward-looking statement.

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

(Norwegian Securities Trading Act)

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