Updating articles of association companies act 2016

The corporate assembly shall elect a chair and deputy chair from and among its members.

updating articles of association companies act 2016-90

Article 7 The company shall have a corporate assembly consisting of 18 members and deputy members.

The annual general meeting shall elect 12 members and four deputy members for these 12 members.

Six members and deputies for these six members shall be elected by and among the employees of the company in accordance with regulations stipulated in or pursuant to the Public Limited Companies Act.

The activities may also be carried out through participation in or cooperation with other companies.

The object of Statoil ASA is to engage in exploration, production, transportation, refining and marketing of petroleum and petroleum-derived products, and other forms of energy, as well as other business.

Article 2 The company’s registered office is located in the municipality of Stavanger.Article 3 The share capital of the company is NOK 8,017,365,112.50 divided into 3.206.946.045 shares of NOK 2.50 each.Article 4 The board of directors of the company shall consist of 9-11 members.The board of directors, including the chair and the deputy chair, shall be elected by the corporate assembly.Deputy directors may be elected in respect of the directors elected by and among the employees in accordance with regulations stipulated in or pursuant to the Public Limited Companies Act.The board of directors may be elected for up to two years.