Evaluating sale of Irish downstream business

January 31, 2006, 15:00 CET

Statoil ASA has initiated a process to evaluate a possible sale of its Irish retail and commercial & industrial business (Statoil Ireland Ltd). This is a result of a review of its retail business portfolio.

Statoil Ireland has been active in the Irish market since 1992, advancing during this period from fifth place to its present market leadership.

Statoil Ireland is the market leader for automotive fuels in Ireland, with a market share of approximately 20 per cent, and has approximately 1,100 employees. Statoil Ireland has interests in 236 service stations as well as in terminals and distribution companies for heating oil.

Jacob Schram, senior vice president of Statoil Retail Europe, says:

“We intend to accelerate our strategic commitment to our markets in Scandinavia and eastern Europe. Whilst we have a solid position in Ireland, we believe that, under new ownership, the organisation there will be better placed to achieve its strategic potential.”

Contact:

Morten Henriksrud, public affairs manager Statoil ASA, +47 90 01 69 60

Jacob Schram, senior vice president Statoil Retail Europe, +47 90 78 47 80