Statoil: Changes in the corporate executive committee

01.03.2012  |  Globenewswire Europe

Lars Christian Bacher has been appointed executive vice president for
Development and Production International (DPI) in Statoil (OSE: STL, NYSE:STO)
and will take up his new position as of 1 September. Bacher will succeed Peter
Mellbye who is retiring after 30 years with the company.

Lars Christian Bacher holds a master's degree in chemical engineering from the
Norwegian University of Science and Technology (NTH) and a business degree from
the Norwegian School of Economics (NHH).

He joined Statoil in 1991, and has held a number of management positions in
Statoil including platform manager at the Norne and Statfjord fields on the
Norwegian continental shelf. He has also been vice president for Gullfaks
operations and later senior vice president for the Tampen area. He led the
restructuring and integration process for Development and Production Norway
(DPN) following the merger with Hydro and was senior vice president for
operations North Sea in DPN.

Bacher is coming from the position as senior vice president for Canada in
Development & Production North America (DPNA), a position he has held since
October 2009.

“Lars Christian Bacher is taking on the international development and production
responsibility at a significant time. He has experience from different parts of
the value chain including handling external stakeholders and international
exposure. He brings strategic and operational experience to the corporate
executive committee of Statoil“, says president and CEO Helge Lund.

“At the same time I want to give recognition to Peter Mellbye for the
achievements he has brought to Statoil over three decades“, Lund says.

For more information, please contact:

Investor relations
Hilde Merete Nafstad, senior vice president investor relations,
Tel: + 47 957 83 911 (mobile)

Morten Sven Johannessen, vice president, investor relations North America,
Tel: +1 203 570 2524 (mobile)

Media relations
Bård Glad Pedersen, press spokesperson,
Tel: +47 91 80 17 91 (mobile)

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)







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Source: Statoil via Thomson Reuters ONE

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Unternehmen: Statoil - ISIN: NO0010096985