Election to Statoil's board of directors


STAVANGER, NORWAY--(Marketwired - Jun 12, 2013) - In a meeting in the Corporate Assembly ofStatoil ASA (OSE:STL, NYSE:STO) 11 June Svein Rennemo was re-elected aschair and Grace Reksten Skaugen as deputy chair of the board of directors.Børge Brende, Bjørn Tore Godal, Maria Johanna Oudeman and Jakob Stausholmare re-elected as shareholder representatives to the board. CatherineHughes and James J. Mulva were elected as new shareholder representativesto the board. Board members Roy Franklin and Lady Barbara Judge havenotified the nomination committee that they do not wish to stand forre-election to the board of directors.

Catherine Hughes is a Canadian/French citizen. She has an extensive careerwithin the oil and gas industry. From 2009 to 2013 she worked for Nexen,located in Alberta, Canada, first as vice president (VP) operationalservices, technology and HR and from 2012 as executive vice presidentresponsible for all activities outside Canada. From 2005 to 2009, she wasVP exploration and production services then VP oil sands at Husky Oil.Prior to that Hughes spent 20 years with Schlumberger and held keypositions in various countries including Nigeria, Italy, France, UK, Canadaand USA. She holds a Bachelor of Science degree in electrical engineeringfrom Institut National des Sciences Appliquées de Lyon. Neither Hughes norher close associates hold shares in Statoil.

James J. Mulva is a US citizen. He was president and CEO of Houston-basedConocoPhillips from 2002 until retirement in 2012. From 2004 to 2012 healso served as chairman of the board. Prior to this he was chairman,president and CEO of Phillips Petroleum from 1999 to 2002. Mulva startedhis career in the oil and gas industry with Phillips Petroleum Company in1973 and held positions within the finance area, being chief financialofficer (CFO) from 1990 -1993. He served as chief operating officer (COO),responsible for all operations including refineries, offshore and onshoreactivities from 1994 to 1999. He holds a Master of Business Administrationfrom University of Texas. Mulva presently serves at the board of directorsof General Motors and General Electric. Neither Mulva nor his closeassociates hold shares in Statoil.

The election enters into effect from 1 July 2013 until the next ordinaryelection of shareholder representatives to the board of directors in 2014.

All candidates were elected in accordance with the proposal from thenomination committee.

Further, the corporate assembly has re-elected Lill-Heidi Bakkerud asemployee representative to the Statoil board of directors. Ingrid DiValerio and Stig Lægreid have been elected as new employee representatives.

The following persons have been elected as deputy members for the board'semployee representatives (with the following priority): Per SteinarStamnes, Per Gunnar Stavland, Jorunn Birkeland, Trine Christel ThomassenHolsen and Heikki Lehmoinen Oltedal.

The election enters into effect from 1 July 2013 and the employeerepresentatives have been elected for a period of two years.

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

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(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Statoil via Thomson Reuters ONE



Olaug Svarva
chair of Statoil's corporate assembly and the nomination committee.

All enquiries to be directed through Statoil Corporate Press Office
Jannik Lindbaek
tel: +47 977 55 622


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