Statoil Receives Permission to Drill Well 16/4-4

Norwegian Petroleum Directorate

The Norwegian Petroleum Directorate has granted Statoil permission to drill well 16/4-4 using the West Epsilon jackup.

The drilling program for well 16/4-4 covers drilling a wildcat well in Production License 339. Statoil is the operator with a 70% stake and ExxonMobil holds the remaining 30%.

The area of this production license consists of parts of block 16/4, situated approximately 9.5 km northeast of the 16/7-2 H discovery in the middle section of the North Sea.

Production License 339 was awarded in the North Sea Awards in 2004. This is the forth well that is being drilled in block 16/4.

The drilling permit is based on the condition that other permits and consents required by other authorities are issued before the drilling activity commences.