Commencement of subscription period for the Dividend Issue for the second quarter 2016 under the Scrip Dividend Programme

Reference is made to the previous announcements by Statoil ASA (OSE:STL, NYSE:STO, the “Company”) regarding the resolution made by the annual general meeting on 11 May 2016 to approve the two year scrip dividend programme commencing from the fourth quarter 2015 (the “Scrip Dividend Programme”) and to distribute a dividend of USD 0.2201 (NOK 1.8068, as announced 9 November 2016) per share for the second quarter 2016 that shareholders can choose to receive either in new shares of the Company (“Dividend Shares”) or in cash. ….