Statoil: USD 2.65 bn transaction to capture value and focus the portfolio

Statoil ASA (OSE: STL, NYSE: STO) has signed an agreement to divest minority
interests in the Gullfaks and Gudrun fields offshore Norway and exit the non-
core, non-operated Schiehallion and Rosebank fields, West of Shetlands.

In addition to the cash consideration of USD 2.65 billion, the transaction with
Austrian oil and gas company OMV includes a contingent payment and involves a
partnership between the two companies. Statoil reduces its ownership share in
Gullfaks from 70 % to 51 % and from 75 % to 51 % in Gudrun, and retains its
operatorships on both fields.

"Through this transaction, Statoil captures value created through asset
development and unlocks capital for investment in high return projects in core
areas. This includes our recent discoveries on the Norwegian continental shelf.
We continue to deliver on our strategy to create value through active portfolio
management and to further increase our financial flexibility," says Helge Lund,
Statoil's president and chief executive officer.

Statoil expects to recognize a gain from the transaction estimated to be between
USD 1.3-1.5 billion, to be adjusted for activity between the effective date 1
January 2013 and the closing date.

The transaction will enable Statoil to redeploy around USD 7 billion of capital
expenditure, around USD 5.5 billion of which is pre-2020 (excluding potential
investments in the recent Shetland/Lista discovery at Gullfaks).

Entering partnership

OMV is an established company on both the Norwegian (NCS) and the UK (UKCS)
continental shelves. Statoil and OMV enter into a partnership including
potential cooperation on exploration opportunities across Norway, the UK and the
Faroese Islands as well as the development of Enhanced Oil Recovery (EOR)
technologies.

"Statoil is pleased to strengthen the partnership with OMV on the Norwegian
Continental shelf. OMV is already a valued partner in Edvard Grieg and Aasta
Hansteen, and this agreement enables our companies to develop the cooperation
further," says Lund.

"I believe this is a win-win deal for Statoil and OMV. Apart from the assets, I
am especially proud that we can partner with a world-class leader in offshore
and EOR technology", says Gerhard Roiss, chief executive officer of OMV.

Demonstrating the value of Statoil's NCS and UKCS portfolio

The transaction builds on Statoil's offshore competence and experience, and
track record of realising value through asset development and portfolio
management.

As operator of the Gullfaks field, Statoil has added substantial value through
successful efforts to maximise oil recovery and recently announced a new
discovery in the Shetland/Lista formation. As part of the transaction, Statoil
captures upside from this discovery through a contingent payment of 6 USD per
boe of reserves developed.

Gudrun is on track for production start-up in the first quarter of 2014. As the
operator, Statoil is executing the development on time and below original cost
estimates. Today's transaction demonstrates the value of efficient project
execution in an asset where Statoil increased its ownership in 2010.

Statoil remains committed to growing its business on the UKCS and is the
operator of large field developments including the Mariner project and
exploration licenses. By divesting non-core, non-operated developments in the
West of Shetlands, Statoil further focuses its UK portfolio.

Statoil's production from the divested assets in the first half of 2013 was
approximately 26 thousand barrels of oil equivalent per day from Gullfaks.
Production impact for Statoil from the transaction is estimated to around 40
thousand barrels of equity oil equivalent per day in 2014 and 60 boe per day in
2016.

The effective date for the transaction is 1 January 2013. Closing is expected
around year end 2013, pending government and partner approvals.

Total proceeds of around USD 15 billion have been realized through divestments
by Statoil since 2010, enabling the company to redeploy resources to core, high
return upstream projects.

Bank of America Merrill Lynch and Lambert Energy Advisory Limited were financial
advisors to Statoil on this transaction.

Investor and analyst conference

There will be a conference call with President and CEO Helge Lund and CFO
Torgrim Reitan on 19 August at 13.30 CET. Please dial in 10 minutes prior to
conference start to the following numbers:


* Local - Oslo, Norway: +47 23162787
* Local - London, United Kingdom: +44(0)20 3427 1903
* National free phone - United Kingdom: 0800 279 5004
* National free phone - United States: 1877 280 2296
* National free phone - Norway: 800 56054

Please enter confirmation code 6859711.

Transaction overview



Field Operator From To Licenses Partners

Gullfaks Statoil 70% 51% PL050 Petoro 30 %
PL050B
PL050C
PL050D
PL037B
PL037E
PL152
PL277

Gudrun Statoil 75% 51% PL025, PL187 GdF Suez 25%

Schiehallion BP (33.35%) 5.88% 0% P 559 (in   Block 204/25a) Shell 54.90%,
directly OMV 5.88 %
P 556 via UUOA
P 803 via UUOA

Rosebank Chevron (40%) 30% 0% P 1026 (in Blocks 213/26b OMV (20%),
and 213/27a) DONG (10%)
P 1191 (in Block 205/1A)
P1272 (in Block 205/2A)


About Statoil

Statoil ASA is an international energy company with operations in 34 countries.
Building on 40 years of experience from oil and gas production on the Norwegian
continental shelf, we are committed to accommodating the world's energy needs in
a responsible manner, applying technology and creating innovative business
solutions. We are headquartered in Stavanger, Norway, with approximately 23,000
employees worldwide, and are listed on the Oslo and New York stock exchanges.

About OMV

OMV, headquartered in Vienna, is Austria's largest listed industrial company.
The company has its primary activities within Exploration & Production, Gas &
Power and Refining & Marketing. In its core countries in Romania and Austria,
OMV is focusing on reducing the natural decline and on enhancing the recovery
rates from mature fields. Future growth is expected to come via new field
developments, exploration and acquisitions internationally. OMV has been active
in Norway since 2006 and holds 23 offshore licenses on the NCS, including 6
licenses awarded in 2013 as part of the 22 licensing round. Norway is one of the
key growth areas for OMV. OMV (Norge) AS is headquartered in Stavanger.

For more information:

Investor relations
Hilde Merete Nafstad, senior vice president, Investor Relations
Tel: +47 957 83 911

Media relations
Jannik Lindbæk Jr, vice president, Media Relations
Tel: +47 97755622

Fredrik Norman, Media Relations
Tel: +47 918 66 567

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


Presentation Equity story:
http://hugin.info/132799/R/1723583/574439.pdf



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Source: Statoil via Thomson Reuters ONE
[HUG#1723583]