March 12, 2007 04:16 ET

Changes in the corporate executive committee of Statoil ASA

STAVANGER, NORWAY -- (MARKET WIRE) -- March 12, 2007 --

The executive vice president for Statoil's (OSE: STL, NYSE: STO) Exploration & Production Norway business area, Terje Overvik (55), will withdraw from the corporate executive committee as of 1 June this year. Mr Overvik is to take up the position as managing director of Gaz de France Norge on 1 September.

Terje Overvik has a PhD in engineering from the Norwegian University of Science and Technology (NTNU) in Trondheim. He joined Statoil in 1983 and has had a number of key posts in the Statoil group, including platform manager and operations vice president for the Statfjord field. He was executive vice president for Technology before he took over responsibility for Norwegian continental shelf (NCS) operations in 2004.

"Terje has a very robust career behind him at Statoil," says chief executive Helge Lund.

"In recent years he has been one of the driving forces in the revitalisation that has taken place on the NCS. Terje has the ability to combine long- term, strategic thinking with a focus on the daily operations. He has made his mark not least in his involvement in very active HSE work. I wish him good luck with the new challenges he will come to meet in Gaz de France, and we in Statoil look forward to a continuing good collaboration with both Terje and Gaz de France."

Until Mr Overvik leaves Statoil, matters relating to Gaz de France will be dealt with by Rune Bjørnson, executive vice president for Statoil's Natural Gas business area.

Further information from:

Investor relations
Lars Troen Sørensen, senior vice president
investor relations, + 47 90 64 91 44 (mobile),
+47 51 99 77 90 ( office)
Geir Bjørnstad, vice president, US investor
relations, + 1 203 978 6950

Ola Morten Aanestad, vice president public
affairs, +47 48 08 02 12 (mobile)
+47 51 99 13 77 (office)

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