Board satisfied with follow-up of Horton affair

October 24, 2003, 18:30 CEST

On Thursday 23 October, the board of Statoil ASA received a comprehensive status report from the administration about the measures implemented to follow up important aspects of the Horton issue. The board is satisfied with the work being done.

On the evening of 22 October, the members of the board also received a memo from union officials representing the Norwegian Oil and Petrochemical Workers Unions (Nopef) and the Confederation of Vocational Unions (YS) stating their views on the sequence of events in the Horton affair. The unions were also given the opportunity to present this memo to the board at its meeting on 23 October, and questions regarding information to the employees were discussed. The board for its part does not consider that the memo contains any significantly new information.

However, the board wants the memo to be sent to the group's external legal adviser Erik Keiserud, who is currently carrying out an extensive review of all aspects of the Horton affair. He reports to the board.

The unions were informed that the board and the administration had already agreed to expand the resource team appointed by the administration to include two representatives of the employees selected by the five unions. This is intended to give the employees' representatives increased insight into and an opportunity to participate in the work. The resource team is examining all important aspects of the Horton affair.

The board points out that much internal and external information on the issue has already been provided. It understands the employees' need for information. The board also ascertains that information must take into account necessary limitations, since the matter is currently under investigation.

Queries can be addressed to Kaci Kullman Five, chair of the board, tel: +47 91 63 00 40 (mobile).