The Gullfaks field: Safe

operations and future potential

2 March 2011, Holmenkollen Park

1-

Agenda
History
HSE
Well integrity
The future
Important projects
Improvement in operational
performance
Summary and Q&A

2-

Opeqa
tions

The Gullfaks field

Opeqa
tions

3-

Serious incident frequency (SIF)

Number of serious incidents in Statoil per million hours worked.

Gullfaks

Development and Production Norway

7

3
5

2
3

Opeqa
tions

0
2005

4-

2006

2007

2008

2009

2010

2005

2006

2007

2008

2009

2010

The Top Shetland situation incr. pressure

The Shetland group was
mapped in detail during
2010
The pressure is presumed
to spread in fractures and
faults from the reservoir and
in the chalk at the top of the
Shetland group
Opeqa
tions

5-

Well integrity status

Shut in wells
20 shut in wells due to suspicion of integrity problems
29 producers to maintain pressure balance in reservoir
1 additional water injector is shut in due to top side limitations
The Hordaland group functions as a barrier in a well integrity context
No leakage has been detected from the reservoir, either to the seabed or to the shallow
layers as a result of Statoils operations at Gullfaks

New adjusted water injection strategy implemented Opeqa

No safety issues at Gullfaks

tions

Maintaining a good dialog between management and employees

6-

Hordaland as a barrier
The Hordaland group on Gullfaks contains large volumes of sand
The Hordaland group's sand complex covers the entire Gullfaks licence
Volumes used in calculations very conservative still expect a pressure increase of only 2
bar
The Hordaland group can withstand 25-45 bar of pressure build-up before they fracture
further
The Hordaland group functions as a barrier in a well integrity context, because it will
prevent migration of pressurised fluids to the seabed
Opeqa
tions

7-

Postponed production
V

Well barrier schematic

32
26

Barrier against Shetland As built

Shallow Gas

ISV
PT

IWV

KV
IUMV
ILMV

Nordland Gp.

PT

PI

Nordland Gp.
Nordland Gp.

Utsira Eqv..
20

20 @ 1806m MD
TOC 13 3/8

Barrier

Hordaland
Gp.

Balder
v v v v
v v v v
Rogaland
Fm.
1km
Gp.

Reservoir

v v v v

v v v v v

Shetland
Gp.

13 3/ 8
Top Shetland
3378 mMD / 1730
mTVD
TOC 9 5/8
PT

1
v
13
3/8

v
v

9
5/8 7

9 5/8

Perforations

v
7

8-

DHSV @ 557 m MD

Future potensial
Discoveries and prospects

Total Gullfaks production, IOR volumes are unrisked

Total Gullfaks
Sanctioned projects

Not sanctioned projects

Improved Oil Recovery

Prospects

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2023

2024

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

300
280
260
240
220
200
180
160
140
120
100
80
60
40
20
0

2010

kBoe/day (100%)

Basis

Total Gullfaks

9-

Gas

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

300
280
260
240
220
200
180
160
140
120
100
80
60
40
20
0
2010

kBoe/day (100%)

Oil

Opeqa
tions

Robust and profitable projects

Drilling Facility Upgrade (GFA, GFB and GFC)
Upgrade of drilling facilities to prolong
lifetime to year 2030
Pre Compression (GFC)
Increase pressure from GF South (L and
M frame) to increase oil recovery
Snorre to Gullfaks A

Replace Statfjord A as oil / gas processor

for Snorre A, including storrage and
loading of oil
Gullfaks Omega
New subsea templates or wellhead
platform to increase oil and gas recovery

10 -

Opeqa
tions

Robust and profitable projects (cont.)

Water Injection Upgrade (GFB)
Upgrade capacity to maximize oil recovery

Visund Sr
New subsea project with tie-in to Gullfaks
C
Late Life Project (GFA, GFB and GFC)
Life time extension

11 -

Opeqa
tions

Gullfaks Omega
Further development of the
Gullfaks South Statfjord formation
Possible inclusion of
production from exploration
well to Brent 10 A/B
Two new subsea templates
4 producers from new templates
3 MLT wells
2 gas inj. from new template
Gas injection till 2025

12 -

Opeqa
tions

Improvement in operational performance

Total recordable
injury frequency

Maintenance backlog*

Drilling efficiency m/d

Production efficiency**
0

Consistently
improving trend

* Safety critical equipment

** McKinsey - North Sea Benchmark 2010

13 -

4Q 10

Results of long-term
and consistent HSE
leadership

3Q 10

2010

2Q 10

2009

1Q 10

2008

4Q 09

2007

2007

2008

2009

20

40

60

80

100

2010

Significantly reduced
maintenance backlog

Drilling efficiency
improved

Competitive performance
towards peers

New operating model

standard work
processes

New rig capacity in

place

Turnaround frequency &

optimised maintenance

Summary
Safe operations

Resources are proven

Decline in line with expectation
Quality
in execution and operations
Opeqa
tions

Robust and profitable projects

Sound basis for long term value creation

14 -

Forward looking statements

This presentation contains certain forward-looking statements that involve risks and uncertainties.
In some cases, we use words such as "ambition", "believe", "continue", "could", "estimate", "expect",
"intend", "likely", "may", "objective", "outlook", "plan", "propose", "should", "will" and similar expressions
to identify forward-looking statements.
All statements other than statements of historical fact, including, among others, statements such as
those regarding: expected equity production; regularity, efficiency and productivity goals for future
operations and projects; our financial position, results of operations and cash flows; expected dividend;
our future market position; business strategy; expected changes in ownership interests and structures;
expected project development expenditures; plans for future development (including redevelopment) and
operation of projects; reserve information; reserve recovery factors; future reserve replacement ratio;
entitlement volumes; expected timing of resumption of certain exploration drilling in the US Gulf of Mexico;
future ability to utilise and develop our expertise; future growth (including future production growth); our
future ability to create value; oil and gas production forecasts; future composition and maturity of our
exploration and project portfolios; exploration expenditure; expected exploration and development
activities and plans; planned turnarounds and other maintenance; expected unit production cost; expected
refining margins; expected gap between entitlement and equity volumes; expected impact of contractual
arrangements on equity volumes; expected production and capacity of projects; projected impact of laws
and regulations (including taxation laws); the impact of the uncertain world economy; expected capital
expenditures; our expected ability to obtain short term and long term financing; our ability to manage our
risk exposure; the projected levels of risk exposure with respect to financial counterparties; our ability to
obtain financing at attractive funding cost levels; the expected impact of currency and interest rate
fluctuations (including USD/NOK exchange rate fluctuations) on our financial position; oil, gas and
alternative fuel price levels and volatility; oil, gas and alternative fuel supply and demand; the markets for
oil, gas and alternative fuel; projected operating costs; the completion of acquisitions, disposals and other
contractual arrangements; estimated values in use; estimated cash flows; estimated costs (including costs
for plugging and abandonment of wells); estimated future operational leasing commitments; future number
of vessels employed; estimated decline of mature fields; future market conditions; future utilisation of
capacity contracts; our HSE objective; impact of PSA effects; and the obtaining of regulatory and
contractual approvals, are forward-looking statements. You should not place undue reliance on these
forward-looking statements. Our actual results could differ materially from those anticipated in the
forward-looking statements for many reasons, including the risks described above in "Risk update".

15 -

These forward-looking statements reflect current views with respect to future events and are, by their
nature, subject to significant risks and uncertainties because they relate to events and depend on
circumstances that will occur in the future. There are a number of factors that could cause actual
results and developments to differ materially from those expressed or implied by these forward-looking
statements, including levels of industry product supply, demand and pricing; currency exchange rates;
interest rates; trading activities; the political and economic policies of Norway and other oil-producing
countries; general economic conditions; political stability and economic growth in relevant areas of the
world; global political events and actions, including war, terrorism and sanctions; changes in laws and
governmental regulations; the lack of necessary transportation infrastructure when a field is in a remote
location; the timing of bringing new fields on stream; material differences from reserves estimates; an
inability to find and develop reserves; adverse changes in tax regimes; the development and use of new
technology; geological or technical difficulties; operational problems; security breaches; the actions of
competitors; our ability to successfully exploit growth opportunities; the actions of field partners; industrial
actions by workers; failing to attract and retain senior management and skilled personnel; failing to meet
our ethical and social standards; operational catastrophes; security breaches; natural disasters and
adverse weather conditions and other changes to business conditions; and other factors discussed
elsewhere in this report. Additional information, including information on factors that may affect Statoil's
business, is contained in Statoil's 2009 Annual Report on Form 20-F filed with the U.S. Securities and
Exchange Commission, which can be found on Statoil's website at www.statoil.com.
Although we believe that the expectations reflected in the forward-looking statements are reasonable,
we cannot assure you that our future results, level of activity, performance or achievements will meet
these expectations. Moreover, neither we nor any other person assumes responsibility for the accuracy
and completeness of the forward-looking statements. Unless we are required by law to update these
statements, we will not necessarily update any of these statements after the date of this review, either
to make them conform to actual results or changes in our expectations.

Thank you
The Gullfaks field: Safe operations and future potential

16 -