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Presenting new targets

June 11, 2003, 12:00 CEST

Targets for Statoil up to 2007, and the way the group aims to meet them, are due to be presented on 12 June by chief executive Olav Fjell and the rest of the corporate executive committee (KL).

The presentation will take place at the second annual Capital Markets Day (CMD) being staged at the group’s head office in Stavanger.

Held two years after Statoil’s listing on the Oslo and New York stock exchanges, this event assembles major Norwegian and foreign banks, stockbrokers and institutional investors.

Through the KL presentations, these capital market players can form an assessment of the group’s future strategies which will ultimately help to determine how its share price develops.

Roughly 100 investors, analysts and journalists have been invited to receive briefings on Statoil’s forthcoming strategic opportunities and challenges.

“We regard the CMD and our meeting with the analysts as a fine opportunity to provide detailed presentations,” says Mr Fjell.

“These will explain how we intend to meet the challenges facing us towards 2007 and give a detailed account of the way we aim to reach our targets.”

He will give the main presentation at the CMD, followed by chief financial officer Inge K Hansen and the other executive vice presidents with details of their own areas of responsibility.

Statoil’s ambition to become an international oil and gas company will receive attention, along with developments in Norway’s offshore sector and in the manufacturing and marketing sector.

The group’s central role as a key player in the European gas market will also be outlined at the meeting.

Two delegations of CMD guests are today, 11 June, due to visit Statoil’s Gullfaks A platform in the North Sea and the Mongstad refinery near Bergen respectively.

Link to presentations >>