Press release from Nopef, YS and the chair of Statoil ASA

October 27, 2003, 21:00 CET

Chair of Statoil, Kaci Kullmann Five has today, 27 October, met with union officials representing the Norwegian Oil and Petrochemical Workers Union (Nopef) and the Confederation of Vocational Unions (YS) in Statoil.

Nopef, a member of the Federation of Norwegian Trade Unions (LO) and YS had approached the board to ask that further information on the Horton affair be given to Statoil's employees.

Agreement was reached today on the type of information that is required. This information will be imparted in, and in connection with, an interview with the chair in Statoil's in-house journal which will be published on Friday 31 October.

"I feel that we have had a constructive discussion today," says Ms Kullmann Five. "The board is maintaining focus on tidying up after the Horton affair while being as open as possible regarding the affair."

"The most important thing for us has been to show the employees and the general public that Statoil is a healthy company which reacted against the Horton agreement, and that it was the top management that made errors of judgement," say Hans Marius Saltveit (YS) and Lill-Heidi Bakkerud (Nopef). "We feel that the information now to be provided by the board's chair in our in-house journal fulfils our wishes. We have had a good collaboration with the chair and we hope that this will contribute to more openness in Norway's most important company."

Ms Kullmann Five has also had a meeting with the Norwegian Society of Chartered Engineers (NIF), the Norwegian Society of Engineers (Nito) and the Norwegian Association for Supervisors. Ms Kullmann Five says that this was also a positive meeting.

Contact persons:

Kaci Kullmann Five, chair, tel: +47 91 63 00 40

Hans Marius Saltveit, YS, tel: +47 90 01 61 81

Lill-Heidi Bakkerud, LO/Nopef, tel: +47 95 23 60 98

Kai Nielsen, public affairs manager, tel +47 97 04 13 32