Table of Contents Table of Contents 2 List of Tables 5 List of Figures 6 Company Snapshot 8 Key Information 8 Company Overview 8 Statoil ASA, Valuation and Financial Data 9 Statoil ASA, Share Price Performance 9 Share Price Performance, Q4, 2014-Q4, 2015 9 Statoil ASA, Key Valuation Metrics 10 Key Valuation Metrics, Q4, 2014-Q4, 2015 10 Statoil ASA, Quarterly Results of Oil & Gas Operations Per boe Produced 11 Results of Oil & Gas Operations Per boe Produced, Q4, 2014-Q4, 2015 11 Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2014-Q4, 2015 12 Statoil ASA, Quarterly E&P Costs Trends 13 Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13 Statoil ASA, Quarterly Production Trends 14 Statoil ASA, Total Oil and Gas Production 14 Total Crude Oil and Natural Gas Production Trend, Q4, 2014-Q4, 2015 14 Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 15 Statoil ASA, Crude Oil Production 16 Total Crude Oil Production Trend, Q4, 2014-Q4, 2015 16 Crude Oil Production, By Country/Region, Q4, 2014-Q4, 2015 17 Statoil ASA, Natural Gas Production 18 Total Natural Gas Production Trend, Q4, 2014-Q4, 2015 18 Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 19 Statoil ASA, Valuation and Financial Data, 2011-2015 20 Statoil ASA, Share Price Performance, 2011-2015 20 Share Price Performance, 2011-2015 20 Key Valuation Metrics, 2011-2015 21 Statoil ASA, Production and Reserves Trends 22 Total Oil and Gas, Reserves and Production 22 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26 Crude Oil/Liquids Production and Reserve 27 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27 Crude Oil Production and Reserves By Country/Region, 2011-2015 28 Crude Oil/Liquids Reserve Changes, 2011-2015 30 Natural Gas Production and Reserve 31 Natural Gas Production and Reserve Trend, 2011-2015 31 Natural Gas Production and Reserves, By Country/Region, 2011-2015 32 Natural Gas Reserve Changes, 2011-2015 34 Total Crude Oil and Natural Gas Reserves Life Index 35 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36 Statoil ASA, E&P Costs Trends 38 Allocation of the Upstream Capital Expenditure 38 Upstream Capital Expenditure, 2011-2015 38 Acquisition Costs By Country/Region, 2011-2015 39 Exploration and Development Costs, By Country/Region, 2011-2015 41 Oil and Gas Cost Per boe, US$/boe 43 Oil and Gas Cost Per boe, US$/boe, 2011-2015 43 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 45 Statoil ASA, Reserve Replacement Ratio 48 Oil and Gas Production Replacement Ratio 48 Oil and Gas Production Replacement Ratio, 2011-2015 48 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 50 Statoil ASA, Results of Oil & Gas Operations Trend 54 Oil and Gas Revenue and Expenses 54 Oil and Gas Revenue and Expenses, 2011-2015 54 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 55 Oil and Gas Revenue and Expenses, Per boe 61 Oil and Gas Revenue and Expenses, By boe, 2011-2015 61 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 62 Oil and Gas Performance Metrics 67 Statoil ASA, Land Holdings and Well Data 68 Developed and Undeveloped Acreage 68 Gross and Net Developed and Undeveloped Acreage, 2011-2015 68 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 69 Well Statistics 72 Producible Oil and Gas Well, 2011-2015 72 Producible Oil and Gas Well, By Country/Region, 2011-2015 73 Exploration and Development Wells Drilled, 2011-2015 78 Recent Developments 79 Statoil ASA - Recent Developments 79 Apr 28, 2016: Tullow Oil Provides AGM Trading Update 79 Apr 27, 2016: Statoil Reports Adjusted Earnings Of USD 857 Million In The First Quarter Of 2016 81 Apr 27, 2016: Aker Solutions And ABB Join Forces To Propel And Power Subsea Production 85 Apr 26, 2016: Alterra Power Announces Landmark Deep Drilling Project in Iceland 85 Apr 25, 2016: PDVSA: Venezuela Consolidates The Hydrocarbon Development Of The Hugo Chavez Orinoco Oil Belt 86 Apr 25, 2016: Cathelco desalinators winning customers worldwide 86 Apr 25, 2016: Wood Group Secures Four Statoil Contracts 87 Apr 25, 2016: E.ON to build Arkona offshore wind farm in partnership with Norwegian energy company Statoil 88 Apr 25, 2016: Siemens wins order for offshore wind power plant in the German Baltic Sea 88 Apr 20, 2016: DOF Subsea Contract Awards 89 Appendix 90 Methodology 90 Coverage 90 Secondary Research 90 Primary Research 90 Data Information Sources 91 Company Source 91 SEC/Other Regulatory Filings 91 Other Sources 91 Expert Panel Validation 91 Data Definition 91 Oil and Gas Reserves 91 Units of Measure 92 About GlobalData 92 Disclosure 92 Disclaimer 92

List of Tables Table 1: Statoil ASA, Key Facts 8 Table 2: Statoil ASA, Share Price Performance, Q4, 2014-Q4, 2015 9 Table 3: Statoil ASA, Key Valuation Metrics, Q4, 2014-Q4, 2015 10 Table 4: Statoil ASA, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11 Table 5: Statoil ASA, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2014-Q4, 2015 12 Table 6: Statoil ASA, Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13 Table 7: Statoil ASA, Total Crude Oil and Natural Gas, Production, Q4, 2014-Q4, 2015 14 Table 8: Statoil ASA, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15 Table 9: Statoil ASA, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16 Table 10: Statoil ASA, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17 Table 11: Statoil ASA, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18 Table 12: Statoil ASA, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19 Table 13: Statoil ASA, Share Price Performance, 2011-2015 20 Table 14: Statoil ASA, Key Valuation Metrics, 2011-2015 21 Table 15: Statoil ASA, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23 Table 16: Statoil ASA, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25 Table 17: Statoil ASA, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26 Table 18: Statoil ASA, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Table 19: Statoil ASA, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29 Table 20: Statoil ASA, Crude Oil Reserve Changes, mmbbl, 2011-2015 30 Table 21: Statoil ASA, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Table 22: Statoil ASA, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33 Table 23: Statoil ASA, Natural Gas Reserve Changes, bcf, 2011-2015 34 Table 24: Statoil ASA, Oil and Gas Reserves Life Index, Years, 2011-2015 35 Table 25: Statoil ASA, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37 Table 26: Statoil ASA, Upstream Capital Expenditure, US$ mil, 2011-2015 38 Table 27: Statoil ASA, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40 Table 28: Statoil ASA, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42 Table 29: Statoil ASA, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Table 30: Statoil ASA, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 47 Table 31: Statoil ASA, Oil and Gas Production Replacement Ratio, %, 2011-2015 48 Table 32: Statoil ASA, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 53 Table 33: Statoil ASA, Revenue and Expenses, US$ mil, 2011-2015 54 Table 34: Statoil ASA, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 59 Table 35: Statoil ASA, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 61 Table 36: Statoil ASA, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 65 Table 37: Statoil ASA, Oil and Gas Performance Metrics, 2011-2015 67 Table 38: Statoil ASA, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 68 Table 39: Statoil ASA, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 71 Table 40: Statoil ASA, Producible Oil and Gas Wells, 2011-2015 72 Table 41: Statoil ASA, Producible Oil and Gas Wells, By Country/Region, 2011-2015 76 Table 42: Statoil ASA, Exploratory and Developed Wells, 2011-2015 78 List of Figures Figure 1: Statoil ASA, Share Price Performance, NOK/Share, Q4, 2014-Q4, 2015 9 Figure 2: Statoil ASA, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2014-Q4, 2015 10 Figure 3: Statoil ASA, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11 Figure 4: Statoil ASA, Upstream Capital Expenditure, US$ mil, Q4, 2014-Q4, 2015 13 Figure 5: Statoil ASA, Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2014-Q4, 2015 14 Figure 6: Statoil ASA, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15 Figure 7: Statoil ASA, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16 Figure 8: Statoil ASA, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17 Figure 9: Statoil ASA, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18 Figure 10: Statoil ASA, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19 Figure 11: Statoil ASA, Share Price Performance, NOK/Share, 2011-2015 20 Figure 12: Statoil ASA, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21 Figure 13: Statoil ASA, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22 Figure 14: Statoil ASA, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24 Figure 15: Statoil ASA, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24 Figure 16: Statoil ASA, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26 Figure 17: Statoil ASA, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Figure 18: Statoil ASA, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28 Figure 19: Statoil ASA, Oil Production, By Country/Region, mmbbl, 2011-2015 28 Figure 20: Statoil ASA, Crude Oil Reserve Changes, mmbbl, 2015 30 Figure 21: Statoil ASA, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Figure 22: Statoil ASA, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32 Figure 23: Statoil ASA, Gas Production, By Country/Region, bcf, 2011-2015 32 Figure 24: Statoil ASA, Natural Gas Reserve Changes, bcf, 2015 34 Figure 25: Statoil ASA, Oil and Gas Reserves Life Index, Years, 2011-2015 35 Figure 26: Statoil ASA, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 27: Statoil ASA, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 28: Statoil ASA, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37 Figure 29: Statoil ASA, Upstream Capital Expenditure, US$ mil, 2011-2015 38 Figure 30: Statoil ASA, Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 31: Statoil ASA, Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 32: Statoil ASA, Development Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 33: Statoil ASA, Exploration Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 34: Statoil ASA, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Figure 35: Statoil ASA, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45 Figure 36: Statoil ASA, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45 Figure 37: Statoil ASA, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 46 Figure 38: Statoil ASA, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 48 Figure 39: Statoil ASA, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 50 Figure 40: Statoil ASA, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 50 Figure 41: Statoil ASA, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 51 Figure 42: Statoil ASA, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 51 Figure 43: Statoil ASA, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 52 Figure 44: Statoil ASA, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 52 Figure 45: Statoil ASA, Revenue and Expenses, US$ mil, 2011-2015 54 Figure 46: Statoil ASA, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55 Figure 47: Statoil ASA, Exploration Expenses, By Country/Region, US$ mil, 2011-2015 55 Figure 48: Statoil ASA, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56 Figure 49: Statoil ASA, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56 Figure 50: Statoil ASA, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 57 Figure 51: Statoil ASA, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 57 Figure 52: Statoil ASA, Production Costs, By Country/Region, US$ mil, 2011-2015 58 Figure 53: Statoil ASA, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 58 Figure 54: Statoil ASA, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 61 Figure 55: Statoil ASA, Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 62 Figure 56: Statoil ASA, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 62 Figure 57: Statoil ASA, Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 63 Figure 58: Statoil ASA, Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 63 Figure 59: Statoil ASA, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 64 Figure 60: Statoil ASA, Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 64 Figure 61: Statoil ASA, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 65 Figure 62: Statoil ASA, Oil and Gas Performance Metrics, 2011-2015 67 Figure 63: Statoil ASA, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 68 Figure 64: Statoil ASA, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 69 Figure 65: Statoil ASA, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 69 Figure 66: Statoil ASA, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 70 Figure 67: Statoil ASA, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 70 Figure 68: Statoil ASA, Producible Oil and Gas Wells, 2011-2015 72 Figure 69: Statoil ASA, Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 73 Figure 70: Statoil ASA, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 73 Figure 71: Statoil ASA, Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 74 Figure 72: Statoil ASA, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 74 Figure 73: Statoil ASA, Net Productive Gas Wells, By Country/Region, Number, 2011-2015 75 Figure 74: Statoil ASA, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 75 Figure 75: Statoil ASA, Net Productive Oil Wells, By Country/Region, Number, 2011-2015 76 Figure 76: Statoil ASA, Exploratory and Developed Wells, 2011-2015 78