Our values Dear colleague Our values embody the spirit and energy of Statoil at its best. Our values are essential for us to succeed over time in a competitive environment. Our values are at the core of our management system. They drive our performance and guide us in how we do business and how we work together and towards external stakeholders. Commitment to our values, in words and actions, is not negotiable. We will build an even stronger Statoil. Together we will take the company to the next level. Best regards Helge Lund President and CEO Our values Courageous Open Hands-on Caring Courageous •Be imaginative and ambitious and stimulate new ideas •Use foresight, and identify opportunities and challenges •Challenge accepted truths and enter unfamiliar territory •Make clear demands on each other and push for constructive change •Understand and manage risk Open •Be truthful and act with integrity •Be curious, work together and share experience •Promote and value diversity •Communicate in a precise way, give and accept constructive feedback •Bring up ethical issues and challenges immediately Hands-on •Deliver on promises •Continuously develop sound expertise, demonstrate commercial awareness and customer orientation •Strive for simplification and clarity, and focus on value-adding activities •Act decisively and be loyal to decisions •Show dedication and endurance, follow through and pay attention to important details Caring • Cause zero harm to people and prevent accidents •Reduce the negative impact of our activities and products on the environment •Act within the law and comfortably within our own ethics policy •Demonstrate social responsibility and contribute to sustainable development •Respect the individual, help others to succeed and contribute to a positive working environment www.statoil.com 070535. Photo: Manfred Jarisch, Øyvind Hagen. 07.10.2009