CORRECTION

Statoil ASA: Publication of prospectus and commencement of subscription period for the Dividend Issue for 1Q 2016 under the Scrip Dividend Programme - FOR SHAREHOLDERS IN NORWAY - Seite 2

Eligibility to participate in the Dividend Issue:
Shareholders of the Company holding shares as of 9 August 2016 and who were registered with the Company's shareholder register in the Norwegian central security depository (VPS) as of close of business 11 August 2016 (the record date) ("Existing Shareholders") are entitled to elect to either subscribe for Dividend Shares during the Subscription Period or receive their dividend in cash.

The subscription for Dividend Shares by persons located in, or resident of countries other than Norway, may be affected by the laws of the relevant jurisdiction. The Dividend Shares may not be subscribed for by Existing Shareholders located in or resident of, jurisdictions in which the subscription for Dividend Shares would be unlawful. Existing Shareholders located in, or resident of, countries other than Norway, should inform themselves as to whether restrictions apply to the Dividend Issues and consult their professional advisors if they are in any doubt about any of the contents or application of these restrictions.

Settlement:
The issue of the Dividend Shares is expected to take place on or about 22 September 2016, and the delivery of the Dividend Shares on Oslo Børs is expected to take place on or about 23 September 2016. Delivery of the ADRs representing Dividend Shares is expected to take place on or about 26 September 2016. Trading in the Dividend Shares on Oslo Børs and in the ADRs representing Dividend Shares on NYSE is expected to commence on or about 26 September 2016.

Cash payment of the dividend to holders of ordinary shares on Oslo Børs is expected to be on or about 23 September 2016. Cash payment of the dividend to holders of ADRs is expected to be on or about 26 September 2016.

Interests held through financial intermediaries:
Shareholders, who are eligible for participation in the Dividend Issue and who hold their Shares through a financial intermediary and wish to subscribe for Dividend Shares in the Dividend Issue, should instruct their financial intermediary to subscribe for Dividend Shares in accordance with the applicable instructions received from such financial intermediary. The financial intermediary will be responsible for collecting exercise instructions from the shareholders and for informing the Company of their subscription instructions.