Item 16E Purchases of Equity Securities by the Issuer and Affiliated Purchasers

Statoil share savings program
At the annual general meeting of shareholders in May 2005, the shareholders authorized the board of directors to acquire Statoil shares in the market on behalf of the company.

The board decides the manner in which the acquisition of Statoil shares in the market take place. Shares acquired in accordance with the authorization may only be used for sale and transfer to employees of the Statoil group as part of the group’s share investment plan approved by the board. The lowest amount which may be paid per share is the nominal value and the highest amount which may be paid per share is a maximum of 100 times the nominal value. The authorization was renewed on May 10, 2006 and is valid until May 15, 2007.

The nominal value of each share is NOK 2.50 (USD 0.40). At a maximum overall nominal value of NOK 10 million, the authorization for repurchase of shares in connection with the group’s share savings plan covers a repurchase of no more than four million shares.

(1) The authorization to repurchase a maximum of four million shares with a maximum overall nominal value of NOK 10 million for repurchase of shares in connection with the group’s share investment plan was given by the annual general meeting on May 5, 2004, renewed on May 11, 2005 and renewed again on May 10, 2006 and is valid until May 15, 2007.
(2) All shares repurchased have been purchased in the open market and pursuant to authorizations mentioned above.
(3) Weighted average price per share. Converted for the convenience of the reader at the year-end 2006 rate of exchange of USDNOK 6.2287, this is equivalent to USD 27.28.

Purchase of Statoil shares for subsequent cancellation
At the 2006 annual general meeting of shareholders, the shareholders authorized the board of directors to repurchase shares in the market for subsequent cancellation.  The authorization applies to the acquisition of up to 50 million shares, at a price of between NOK 50 and NOK 500 per share.  Repurchased shares acquired under this authorization may only be cancelled through a capital reduction.  In accordance with our agreement with the Norwegian State, a corresponding number of the State’s shares will also be redeemed and cancelled.  Statoil has agreed not to acquire further shares in the market pursuant to this share repurchase authorization until the proposed merger with Norsk Hydro’s oil and gas activities is closed, which, subject to regulatory approval, is currently expected to occur in the third quarter of 2007.

Statoil’s board of directors has proposed a new authorization to repurchase Statoil shares for subsequent cancellation in the 2007-2008 period, subject to renewal of our agreement with the Norwegian State and approval by the annual general meeting of shareholders on May 15, 2007.

(1) The authorization to repurchase up to 50 million shares in the market for subsequent cancellation at a price of between NOK 50 and NOK 500 per share was approved by the annual general meeting on May 10, 2006. Statoil has agreed not to acquire further shares in the market pursuant to this share repurchase authorization until the proposed merger with Norsk Hydro’s oil and gas activities is closed, which, subject to regulatory approval, is currently expected to occur in the third quarter of 2007.
(2) All shares repurchased have been purchased in the open market and pursuant to authorizations mentioned above.
(3) Weighted average price per share. Converted for the convenience of the reader at the year-end 2006 rate of exchange of USDNOK 6.2287, this is equivalent to USD 27.69.

PART III

Item 16E Purchases of Equity Securities by the Issuer and Affiliated Purchasers

Statoil share savings program
At the annual general meeting of shareholders in May 2005, the shareholders authorized the board of directors to acquire Statoil shares in the market on behalf of the company.

The board decides the manner in which the acquisition of Statoil shares in the market take place. Shares acquired in accordance with the authorization may only be used for sale and transfer to employees of the Statoil group as part of the group’s share investment plan approved by the board. The lowest amount which may be paid per share is the nominal value and the highest amount which may be paid per share is a maximum of 100 times the nominal value. The authorization was renewed on May 10, 2006 and is valid until May 15, 2007.

The nominal value of each share is NOK 2.50 (USD 0.40). At a maximum overall nominal value of NOK 10 million, the authorization for repurchase of shares in connection with the group’s share savings plan covers a repurchase of no more than four million shares.

(1) The authorization to repurchase a maximum of four million shares with a maximum overall nominal value of NOK 10 million for repurchase of shares in connection with the group’s share investment plan was given by the annual general meeting on May 5, 2004, renewed on May 11, 2005 and renewed again on May 10, 2006 and is valid until May 15, 2007.
(2) All shares repurchased have been purchased in the open market and pursuant to authorizations mentioned above.
(3) Weighted average price per share. Converted for the convenience of the reader at the year-end 2006 rate of exchange of USDNOK 6.2287, this is equivalent to USD 27.28.

Purchase of Statoil shares for subsequent cancellation
At the 2006 annual general meeting of shareholders, the shareholders authorized the board of directors to repurchase shares in the market for subsequent cancellation.  The authorization applies to the acquisition of up to 50 million shares, at a price of between NOK 50 and NOK 500 per share.  Repurchased shares acquired under this authorization may only be cancelled through a capital reduction.  In accordance with our agreement with the Norwegian State, a corresponding number of the State’s shares will also be redeemed and cancelled.  Statoil has agreed not to acquire further shares in the market pursuant to this share repurchase authorization until the proposed merger with Norsk Hydro’s oil and gas activities is closed, which, subject to regulatory approval, is currently expected to occur in the third quarter of 2007.

Statoil’s board of directors has proposed a new authorization to repurchase Statoil shares for subsequent cancellation in the 2007-2008 period, subject to renewal of our agreement with the Norwegian State and approval by the annual general meeting of shareholders on May 15, 2007.

(1) The authorization to repurchase up to 50 million shares in the market for subsequent cancellation at a price of between NOK 50 and NOK 500 per share was approved by the annual general meeting on May 10, 2006. Statoil has agreed not to acquire further shares in the market pursuant to this share repurchase authorization until the proposed merger with Norsk Hydro’s oil and gas activities is closed, which, subject to regulatory approval, is currently expected to occur in the third quarter of 2007.
(2) All shares repurchased have been purchased in the open market and pursuant to authorizations mentioned above.
(3) Weighted average price per share. Converted for the convenience of the reader at the year-end 2006 rate of exchange of USDNOK 6.2287, this is equivalent to USD 27.69.

PART III

Item 16E Purchases of Equity Securities by the Issuer and Affiliated Purchasers

The annual general meeting of shareholders authorized on May 11, 2005 that the board of directors on behalf of the company acquire Statoil shares in the market. The authorization may be used to acquire Statoil shares with an overall nominal value of up to NOK 10 million.

The board decides the manner in which the acquisition of Statoil shares in the market take place. Shares acquired in accordance with the authorization may only be used for sale and transfer to employees of the Statoil group as part of the group’s share investment plan approved by the board. The lowest amount which may be paid per share is the nominal value and the highest amount which may be paid per share is a maximum of 100 times the nominal value. The current authorization is valid until November 2006.

The nominal value of each share is NOK 2.50 (USD 0.37). At a maximum overall nominal value of NOK 10 million, the current authorization covers a repurchase of no more than four million shares.

(1) The authorization to repurchase a maximum of four million shares with a maximum overall nominal value of NOK 10 million was given by the annual general meeting on May 5, 2004 and renewed on May 11, 2005. The current authorization is valid until November 2006.

(2) All shares repurchased have been purchased in the open market and pursuant to authorizations mentioned above.

(3) Weighted average price per share. Converted for the convenience of the reader at the year-end 2005 rate of exchange of NOK/USD 6.7444, this is equivalent to USD 19.81.

PART III

Item 16E Purchases of Equity Securities by the Issuer and Affiliated Purchasers

The annual general meeting of shareholders authorized on May 5, 2004 that the board of directors on behalf of the company acquire Statoil shares in the market. The authorization may be used to acquire Statoil shares with an overall nominal value of up to NOK 10 million. The board will decide the manner in which the acquisition of Statoil shares in the market will take place. Such shares acquired in accordance with the authorization may only be used for sale and transfer to employees of the Statoil group as part of the group's share investment plan approved by the board. The lowest amount which may be paid per share is the nominal value and the highest amount which may be paid per share is a maximum of 50 times the nominal value. The current authorization is valid until November 2005.

The nominal value of each share is NOK 2.50 (USD 0.41). At a maximum overall nominal value of NOK 10 million, the current authorization covers a repurchase of no more than four million shares.

(1)The authorization to repurchase a maximum of four million shares was given by the annual general meeting on May 5, 2004, announced on May 6, 2004, and is valid until November 2005.

(2)All shares repurchased have been purchased in the open market and pursuant to the above mentioned authorization.

(3)Weighted average price per share. Converted for the convenience of the reader at the year-end rate of exchange of NOK/USD 6.0794, this is equivalent to USD 17.30.

PART III