Transaction to Realise Value and Secure Long-term Growth on the NCS

The consideration to be paid by Wintershall includes a contingent consideration of USD 100 million relating to the production on Vega. This transaction realises significant value for our shareholders, demonstrates the value of our NCS portfolio, and further enhances the financial flexibility of Statoil. continue our effort to optimise our portfolio, invest in core areas and utilise our key competencies to support our growth strategy,” says Helge Lund, Statoil’s president and chief executive officer.Wintershall is an established player on the Norwegian continental shelf (NCS). As part of the agreement, Wintershall will take over the operatorship of Brage, subject to authority approval.”Through the cooperation with Statoil, we are taking a big step forward in realising our growth strategy and expanding our activities at the source. This enables Wintershall to become one of the leading producers in Norway and balances the global portfolio even more effectively,” Rainer Seele, Wintershall’s chairman of the board of executive directors said.The effective date will be 1 January 2013. Statoil’s production from the divested assets in the first half of 2012 is 39 kboed. The transaction is expected to close in the second half of 2013, pending  government  approval.