Mariner – a project in the making

20 December 2012 2012-12-21

Statoil makes investment decision on Mariner • Largest CAPEX commitment on the UKCS for over a decade − Gross investment of more than USD 7 billion (half to be spent between 2013-2017) • Statoil’s experience and technology will unlock large reserves − Approx. 2 billion boe in place (100%) − More than 250 mboe reserves • Production for 30 years − Approx. 55,000 bbls/d over the plateau period 2017-2020 2 2012-12-21

Mariner is part of the corporate strategy 3 2012-12-21 • World’s largest offshore operator and a key player in the North Sea • Solid heavy-oil experience from Norway, Brazil, Canada and Venezuela – supported by a strong R&D focus • First operator to present commercial development plan for Mariner

Mariner – Overview Background • Block 9/11a, Licence P335 • 150 km east of the Shetlands • First discovered in 1981 • Statoil built a material operated position − Acquired 44.4% of the field in 2007 and took operational role − Additional 20.67% in 2010 Partnership Statoil (Operator) JX Nippon Exploration and Production (U.K.) Limited Cairn Energy PLC 65.1% 28.9% 6.0% 4 2012-12-21

Mariner field specifications • Reservoirs: − Maureen formation at 1,492m − Heimdal reservoir at 1,227m • Heavy oil • Oil with API gravities of 12.1° to 14.2° 5 2012-12-21

The field development concept • Production, drilling and living quarters (PDQ) platform • Floating storage unit (FSU) • Jack-up drilling rig during first 4-5 years • First oil: 2017 • Projected oil reserves: more than 250 million barrels 6 2012-12-21

The field development concept – details PRODUCTION, DRILLING AND LIVING QUARTERS (PDQ) FSU – FLOATING STORAGE UNIT • Integrated PDQ steel jacket • Oil, gas and produced water separation • Drilling module with one Intervention & Completion Unit (ICU) • Process design: 80 000 bbl/d of total oil including diluent and 320 000 bbl/d of total liquid • Living Quarters design for 160 POB • A traditional ship-shape solution • Crude oil storage and offloading • Diluent import, storage and transfer to platform • Situated 2.5 km from the platform • Storage capacity of 850,000 barrels JACK-UP RIG Jack-up rig assisting drilling during the first 4-5 years of operations 7 2012-12-21

Projected benefits for the UK • Significant tax revenues • Operations centre in Aberdeen • 700 long term jobs • Knowledge and technology transfer for future UK projects • Local contractors for support services, maintenance & modifications

Aberdeen

8 2012-12-21

Strategic context of Mariner for Statoil • A natural expansion of Statoil’s lead role in the North Sea basin • First move into a major development field in the UK • Developing competence and technology to unlock new heavy oil fields worldwide 9 2012-12-21

www.statoil.com

10 2012-12-21