1. The way forward on the Norwegian Continental Shelf - into the Arctic oceans Brussels, March 6th 2012 Øivind Dahl-Stamnes, VP North Area Initiative, Statoil 2012-02-15

2. Why Arctic ? – and why now ? Significant HC potential Increased world demand Technology makes it possible Key elements in a sustainable Arctic development −Competence/Technology −Step-by step approach * US Geological Survey estimates 2008 Ice cover Summer 2011 Arctic Alaska/Beaufort ~73 Bboe West Siberia ~133 Bboe East Barents ~60 Bboe Greenland/E. Canada ~52 Bboe A key role in meeting future demand 2012-02-152

3. NCS Nyhamna Europipe II Europipe I Norpipe Emden/ Dornum Teesside ÅTS Norne Åsgard Haltenpipe Heidrun Franpipe Zeebrügge Zeepipe I St Fergus Vesterled Frigg Kårstø Kollsnes Melkøya Snøhvit Ormen Lange Easington Langeled Ekofisk Sleipner Troll Dunkerque Fourth step – 2006-2011 Status 1979 Second step - 1996 First step – 1985Third step - 2000 Statfjord Gjøa Tampen Link Flags 2012-02-153

4. World’s northernmost LNG facility at 70 deg. North, 5 mill. tons/year No surface facilities offshore, no conflict with fishing interests World’s longest unprocessed multiphase pipeline - 143 km Injection/Storage of CO2 equal to emissions from 280,000 vehicles The Snøhvit field, 2007-2040+ State of the art technology in Arctic conditions 2012-02-154

5. 2011 - The direction is set Discovery at Johan Sverdrup Discovery at Skrugard / Havis Management plan Barents Sea White paper on oil and gas White paper on the High North Important policy milestones – key industry developments Barents Sea Delineation Agreement Norway/Russia 2012-02-155

6. The NCS north of the Arctic Circle Project development −Goliat, Luva, Snøhvit Future and Skrugard/Havis 500.000+ boe/day in 2020 Increased exploration efforts −22. license round Opening Barents Sea Southeast in 2013 (former disputed zone) A new oil and gas region Norne Arctic circle 2012-02-156

7. The Norwegian Arctic A future source of energy to Europe Source: Norwegian Oil- and Energy Department, per 31.12.2010 Proximity to markets European Gas Demand/Supply (bcm) Large Norwegian gas resources to meet future demand Norway Russia Algeria Pipeline LNG 2042 billion scm 3 293 1255 billion scm 3 357 Reserves Contingent resources in fields Contingent resources in discoveries Undiscovered resources Billion Sm 3 /year 800 600 400 200 20072012201720222027 Gap ~250 BCM 4% natural decline prod. fields Demand IEA Ref scenario Demand IEA 450 scenario 2042 billion scm 3 293 1255 billion scm 3 357 Source: IEA 2012-02-157

8. The Barents Sea 30+ years of Arctic activity Mostly ice free Proximity to markets Stable and predictable framework Ice cover February 2012 A gateway to the Arctic 2012-02-158

9. The way forward on the Norwegian Continental Shelf - into the Arctic oceans Øivind Dahl-Stamnes VP North Area Initiative www.statoil.com 2012-02-159