Reports on the web (vedlegg)

April 2, 2004, 13:10 CEST

Statoil’s annual and sustainability reports for 2003 are being posted to the group's web site today, 2 April, marking the first time these two documents have been published simultaneously.

The printed versions will be mailed from 5 April. Both have print runs of 70,000 Norwegian and 25,000 English copies, or 190,000 in all - the group’s biggest printing job for the year.

Statoil’s annual and sustainability reports for 2003 are being posted to the group's web site. (Photo: Øyvind Hagen)

All shareholders will receive the sustainability report together with their copy of the annual report and accounts.

Statoil currently has representation in 28 countries and is in a phase where substantial investments are being made, the annual report notes.

Capital spending rose by 20 per cent in 2003. The group's share in the seven largest development projects in which it is involved on the Norwegian continental shelf amounts to NOK 45.5 billion. This applies to sanctioned and ongoing projects.

Similarly, the group's share in nine international development projects totals NOK 34.2 billion.

The sustainability report makes it clear that the way Statoil conducts its business is just as important as the financial results achieved.

Integrity, honesty and reliability are central to the group’s values, and form the basis for building a good culture and positive reputation.

Referring to the Horton agreement in his introduction, acting chief executive Erling Øverland notes that the consequences it accepted show that Statoil took this affair very seriously, and adds, “I am convinced that trust in us will soon be restored.”

Annual report 2003

Consolidated statements of income - USGAAP

Annual report 2003 PDF-file

Financial statements PDF-file

Annual report on form 20-F 2003

Sustainable development

Ethics in Statoil