2011 Oil Sands Report Card Lars Christian Bacher, president of Statoil Canada

2012-04-25

Strategic Context

Position as industry leader in HSE and

carbon efficiency

Safe and sustainable performance a competitive advantage

Continue to leverage and further develop

technology positions

Technology increasingly important for access, value creation and growth

Upstream focused adding value through

selective midstream positions

Attractive outlook for upstream oil and gas

Revitalise NCS with high value barrels

Develop a leading global

exploration company

Continue portfolio management

to enhance value creation

Create value from a superior

gas position

Build material positions in 3-5 new offshore business

clusters

Apply technology to expand in

unconventionals

Production above 2.5 million

boe/d in 2020

Unconventionals are key to our strategy

2012-04-25 2

Statoil in North America

Strategic positions across North America

2012-04-25 3

Substantial resources in Canadian oil sands

•  Significant reserve additions

•  Competitive fiscal and royalty regimes

•  Strong cash flow

•  Technology upside

Rationale Reserves

25 21 203037

4760

92102

143151

174

211

265

0

50

100

150

200

250

300

Saud

i Ara

bia

Vene

zuela

Cana

da Iran

Iraq

Kuwait

Abu D

habi

Russ

iaLib

ya

Nigeria

Kazh

akhs

tanQata

r

United

Stat

esCh

ina

billi

on b

arre

ls

Source: Canadian Association of Petroleum Producers

2012-04-25 4

Cash flow for a typical SAGD plant

2012-04-25 5

Kai Kos Deseh projects

2012-04-25 6

Leismer Demonstration Project

* Steam-assisted gravity drainage

** Steam to oil ratio

•  Rated capacity 18,800 boe/d (based on SOR** 3.0)

•  First oil January 2011 (efficient ramp up of production)

•  Current production ~ 14,000 boe/d

•  More than five million barrels produced to date

•  Demonstration plant providing valuable operational experience

•  Technology pilots

SAGD* facility

2012-04-25 7

Successful start up

2012-04-25 8

Land

ü  Land reclamation

ü  182 000 seedlings planted in 2011

ü  OSLI land stewardship collaboration

2012-04-25 9

Water

ü  No surface water used in production

ü  Surface water monitoring

ü  Observation and monitoring wells

ü  Reduced liquid discharge

2012-04-25 10

Biodiversity

ü  Non-linear seismic lines

ü  Scat study to evaluate animal population

ü  Reclamation

Photo: Paul Tessier

2012-04-25 11

Global energy-related emissions

Global emissions

Canada’s two per cent

GHG emissions from oil sands: §  just over 1/1000th of global GHG emissions §  6.5% of Canada’s GHG emissions §  29% reduction in intensity from 1990

Sources: 1. U.S. Dept. of Energy/EIA 2. Environment Canada

2012-04-25 12

Crude production

Crude transport

Distribution of refined products

Crude upgrading

Crude refining

0 50 100 150 200

West Texas Intermediate Canadian Heavy (Bow River)

Saudi Medium (ave)

Average US Domestic Crude (2005)

Mexico-Maya) Average US Barrel Consumed (2005)

Canadian Oil Sands: Mining Dilbit

Venezuela-Bachaquero Canadian Oil Sands: Mining Bitumen

Canadian Oil Sands: SAGD Dilbit

Average Oil Sands Imported to United States (2009)

Canadian Oil Sands: Mining SCO

Nigeria Light Crude Canadian Oil Sands: SAGD Bitumen

Venezuelan Partial Upgrader California Heavy Oil

Canadian Oil Sands: SAGD SCO

Middle East Heavy Oil CSS Bitumen

Kg CO2e per barrel refined products

2012-04-25 13

CO2 Ambition

2012-04-25 14

Strong progress during 2011

2012-04-25 15

Working with our neighbours

ü  Working with Aboriginal and Metis nations

ü  Local Opportunity Centre established

ü  Capacity building in Northern Alberta

ü  Ski Fit North programme supports youth in local schools

2012-04-25 16

Committed to transparency

2012-04-25 17

2011 Oil Sands Report Card

Lars Christian Bacher President, Statoil Canada www.statoil.com

2012-04-25 18