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Concurring with Shanghai Declaration

December 8, 2005, 15:00 CET

Statoil recently gave its support to the 15-point Shanghai Declaration which commits companies to run their business in a responsible and sustainable manner. The declaration was signed during a summit on corporate citizenship in Shanghai, China.

The summit on creating a more sustainable and inclusive global economy was held by the United Nations Global Compact, of which Statoil has been a member since it was launched in 2000.

Nearly 800 international business leaders and representatives of government and civil society took part.

"Such a declaration of support by governments and international companies to key principles is an important step forward," says Rolf Magne Larsen, senior vice president for country analysis and social responsibility at Statoil.

Ilse Castellanos, CSR manager at Statoil Venezuela, held a presentation at the summit. She gave an account of how Statoil handles issues associated with human rights in collaboration with contractors and the local community. This work is mentioned in Statoil's sustainability report for 2004.