1. Classification: External 05-23-12 Tweaking the Frac Russell Rankin | Bakken BU | May 23, 2012

2. Classification: External 05-23-12 This presentation contains certain forward-looking statements that involve risks and uncertainties. In some cases, we use words such as "believe", "intend", "expect", "anticipate", "plan", "target" and similar expressions to identify forward-looking statements. All statements other than statements of historical fact, including, among others, statements such as those regarding: plans for future development and operation of projects; reserve information; expected exploration and development activities and plans; expected start-up dates for projects and expected production and capacity of projects; the expected impact of USD/NOK exchange rate fluctuations on our financial position; oil, gas and alternative fuel price levels; oil, gas and alternative fuel supply and demand; the completion of acquisitions; and the obtaining of regulatory and contractual approvals are forward-looking statements. These forward-looking statements reflect current views with respect to future events and are, by their nature, subject to significant risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including levels of industry product supply, demand and pricing; price and availability of alternative fuels; currency exchange rates; political and economic policies of Norway and other oil-producing countries; general economic conditions; political stability and economic growth in relevant areas of the world; global political events and actions, including war, terrorism and sanctions; the timing of bringing new fields on stream; material differences from reserves estimates; inability to find and develop reserves; adverse changes in tax regimes; development and use of new technology; geological or technical difficulties; the actions of competitors; the actions of field partners; the actions of governments; relevant governmental approvals; industrial actions by workers; prolonged adverse weather conditions; natural disasters and other changes to business conditions. Additional information, including information on factors which may affect Statoil's business, is contained in Statoil's 2010 Annual Report on Form 20-F filed with the US Securities and Exchange Commission, which can be found on Statoil's web site at www.statoil.com. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot assure you that our future results, level of activity, performance or achievements will meet these expectations. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Unless we are required by law to update these statements, we will not necessarily update any of these statements after this Capital Markets Day, either to make them conform to actual results or changes in our expectations. Forward Looking Statements 2 -

3. Classification: External 05-23-12 Agenda Evolution of Statoil in the W.B. Pilot programs Applying other technologies Evolution of the frac HSE Background 3 -

4. Classification: External 05-23-12 Statoil - 40 years of growth MARKET CAPITALISATION OF ABOUT * USD 88 billion Listed on New York and Oslo stock exchanges * Updated March 23, 2012 EMPLOYEES WORLDWIDE 21,300 COUNTRIES OPERATING 36 HEADQUARTERS Norway 4 -

5. Classification: External 05-23-125 -

6. Classification: External 05-23-12 Marcellus – Dry Gas Joint development with Chesapeake since 2008 665,000 net acres 24 Chesapeake operated rigs Resource potential: 2.5-3.0 billion boe Eagle Ford – Wet Gas Joint development with Talisman since 2010 ~82,000 net acres across 8 Talisman operated rigs Resource potential: ~640 million boe Bakken - Oil Statoil acquisition of Brigham, Dec 2011 ~375,000 net acres across 17 operated rigs Resource potential: ~300-500 million boe NORTH AMERICA Statoil’s Onshore Portfolio Statoil’s Onshore Portfolio Driving Growth 6 -

7. Classification: External 05-23-12 Objective is zero harm to areas where we operate Statoil expects its operators and suppliers to follow relevant regulations and best practices Actively manage environmental risks and employ advanced technology to mitigate impact “Good Neighbor” STATOIL IS RECOGNIZED FOR HSE & Integrity Focus #1 ranked in sustainability amongst O&G companies in 2011 7 -

8. Classification: External 05-23-12 8 ENGINEERING EVOLVES OVER TIME Evolution of the Frac 1947 – Stanolind Oil, Hugoton field, Kansas * Photo credit: JPT Online, Hydraulic Fracturing: History of an Enduring Technology 8 -

9. Classification: External 05-23-12 9 ENGINEERING EVOLVES OVER TIME Evolution of the Frac 9 - 2012 – Statoil, Williston Basin, North Dakota

10. Classification: External 05-23-12 Late 1980’s Horizontal Drilling Bicentennial / Elkhorn 2009 2001-2005 2006 Introduction of Fracture Stimulation 1 st Long Lateral High Frac Stage Completion 2012 More Fracs/Smaller Frac Intervals Elm Coulee (MT) Parshall / Austin / Sanish Swell Packers 2006 North Dakota ~EUR (2) 2,700’ Lateral, Upper Bakken Shale, Openhole 152,000 Boe 9,500’ Lateral, Single-Uncontrolled Frac 304,000 Boe 9,500’ Lateral, 20 Frac Stages ~475’/interval 431,000 Boe 9,500’ Lateral, 30-38 Stages ~250’ - 300’/interval 600,000 Boe 5,000’ Lateral, 7 Frac Stages ~715’/interval 354,000 Boe 9,500’ Lateral, Single-Uncontrolled Frac 123,000 Boe ENGINEERING EVOLVES OVER TIME Evolution of Completions in the Williston Basin 10 -

11. Classification: External 05-23-1211 - Reservoir Contact in Tight Rock is Critical Propped fractures touch more rock than multi-lateral wells It is more effective to touch rock with a fracture than with a drill bit Simple, single laterals designed for stimulation With 150 fracs, estimate ~6,000,000 ft 2 of contact 5 laterals drilled from one wellhead Propped fractures *Overhead, map view Multi-lateral: 15,000 ft of drilled length in 5 laterals = <24,000 ft² of reservoir contact Tiny frac, perhaps 20,000 lbs of proppant at 1 lb/sq ft 2 wings * 2 faces * 200 ft * 50 ft = 40,000 ft² of reservoir contact L = 200 ft Half-length f h = 50 ft

12. Classification: External 05-23-12 >10 Stages <10 Stages Smaller dataset Similar lateral length and close proximity 12 - Field Results Learned from Short Laterals

13. Classification: External 05-23-12 Single stage fracs gave low, but remarkably similar production. Single stage well IPs ~150 to 300 Bopd B C D 13 - SETTING A BASELINE FOR OLD TECHNOLOGY Field Results Corroborates vertical well control indicating consistent reservoir attributes across ~19 miles in Study Area A A B C D

14. Classification: External 05-23-12 Operator’s first 20-stage completion: IP: 1,200 BOPD B C D 14 - COMPLETING A WELL WITH SWELL PACKERS & 20 STAGES Field Results Well E: 20-stage completion 4x - 9x IP A C D E B

15. Classification: External 05-23-1215 - APPLYING RESULTS FROM SHORT LATERALS Increased Stages in Long Laterals

16. Classification: External 05-23-12 Williams Mountrail McKenzie Missouri River Montana North Dakota Richland Roosevelt Bakken Density Pilot Bakken / Three Forks Density Pilot Increased ProppantHiWay FracMulti-port Frac Sleeves 16 - Pilots

17. Classification: External 05-23-12 * Downtime removed Hi-Way Frac Study A B C D Hi-way frac Plug & perf frac 17 - A B C D

18. Classification: External 05-23-12 New technology frac sleeves Plug & perf frac * Downtime removed New Technology Frac Sleeves Study Put map in here. 18 -

19. Classification: External 05-23-12 350 Lbs/ft of lateral 250 Lbs/ft of lateral * Downtime removed Increased Proppant Volume Study A B C D F E G H 19 - A BC D F E G H

20. Classification: External 05-23-12 Microseismic Preliminary Results 90% of the microseismic events occur within ~330’ of the lateral for both wells Nearly twice as many microseismic events were recorded in Well B (increased proppant) vs. Well A Number of Events Distance to Lateral Well A Well B Surface location Well A 250#s per ft 398 Events BHL Well B 350#s per ft 762 Events BHL 20 -

21. Classification: External 05-23-12 Smart pad development Fluids management Integrated operations Gas lift Using natural gas as a fuel Infrastructure efforts UNLOCKING VALUE BY APPLYING TECHNOLOGY Above & Beyond Tweaking the Frac 21 -

22. Classification: External 05-23-12 Statoil Russell Rankin Bakken Business Unit E-mail address: rrankin@bexp3d.com www.statoil.com 22 -