Annual general meeting approves dividend of NOK 6.25 per share 

The annual accounts and the annual report for 2010 for Statoil ASA and the Statoil group were approved, and a dividend of NOK 6.25 per share will be distributed. The dividend accrues to the shareholders as of 19 May 2011. Expected payment date is 1 June 2011.

Statoil’s shares listed on the Oslo Stock Exchange (Oslo Børs) and American Depositary Shares (ADS) listed on the New York Stock Exchange will be traded ex dividend as of 20 May 2011. Expected payment date for dividend in USD to American Depositary Receipts (ADR) is 13 June 2011.

Ingrid Rasmussen, director general of the department for economic and administrative affairs in the Norwegian Ministry of Petroleum and Energy, has been elected new member of the nomination committee effective 19 May 2011, for the period up to the annual general meeting in 2012.

The general meeting gave its approval of the board’s statement on stipulation of salary and other remuneration for the executive management. It also approved the remuneration to the company’s auditor, the corporate assembly and the nomination committee.

The general meeting authorised the board to acquire Statoil shares in the market in order to continue the share saving plan for employees. The general meeting also authorised the board to acquire Statoil shares in the market for subsequent annulment.

The board's proposed changes to the articles of association were approved.

A shareholder proposed that Statoil should divest its interests in oil sands extraction in Canada. The proposal was not adopted.

Please find the complete minutes of the ordinary general meeting enclosed.

Further information:

Investor relations

Hilde Merete Nafstad, senior vice president for investor relations,
Tel: +47 957 83 911

Morten Sven Johannessen, vice president for investor relations USA,
Tel: + 1 203 570 2524

Press

Jannik Lindbæk jr., vice president for media relations,
Tel: +47 97 75 56 22