New chair for Statoil 

November 1, 2006, 00:00 CET

The corporate assembly of Statoil ASA (OSE: STL, NYSE: STO) has today, 1 November, unanimously elected Jannik Lindbæk as the new chair of the company’s board of directors.

Statoil faces major challenges in pursuing its business in Norway and abroad. The assembly emphasises the need to create calm around and confidence in the company.

Given its size and position in Norway, Statoil and its operations attract great public interest. International operations must account for the greater part of its growth in coming years. These considerations will make substantial demands on the company’s chair.

Mr Lindbæk has extensive experience both as a business leader and from international activities, as well as knowledge of the oil and gas business.

The assembly is very satisfied that he has agreed to become chair of Statoil, and thereby to help secure the future development of the company at home and abroad.

Kaci Kullmann Five has been elected deputy chair by the assembly. Ms Five has made a very good commitment in recent weeks as acting chair, and the assembly is glad that she has agreed to serve as deputy chair.

A press conference will be held at 16.00 today, 1 November, in Statoil’s offices at Majorstua in Oslo.

Further information from:

Press:

Wenche Skorge, vice president public affairs, +47 91 87 07 41 (mobile), +47 51 99 79 17 (office)

Morten Henriksrud, public affairs manager, +47 90 01 69 60 (mobile), +47 22 96 22 40 (office)

Investor relations:

Lars Troen Sørensen, investor relations office, +47 90 64 91 44 (mobile), +47 51 99 42 01 (office)