Statoil Names Acting EVPs

Statoil has appointed Tim Dodson,47, and Mads Grinrod, 61, acting executive vice presidents with responsibility for the business area Exploration & Production Norway (EPN) and the corporate staff function for health, safety and the environment (HSE), respectively.

Dodson and Grinrod will serve as members of the corporate executive committee effective June 1, 2007, when Nina Udnes Tronstad (HSE) and Terje Overvik (EPN) step down from the corporate executive committee and leave Statoil. This arrangement will continue until the planned merger with Hydro's oil and gas business has been completed.

Dodson has a degree in geology from the University of Keele in the UK and has been senior vice president for exploration in EPN since 2004. Previously he was vice president for the technology development arena and for the exploration arena in Technology.

He also has broad managerial experience from Statoil's geoscientific organization and EPN, including as project manager and human resources manager for the Statfjord organization. Prior to joining Statoil in 1985, Dodson worked for Geoservices SA for five years.

Grinrod has an engineering degree from the Norwegian Institute of Technology (NTH) and currently serves as Statoil's senior vice president for safety. He has had an extensive career at Statoil, including serving as vice president for drilling and well technology, operations vice president for Sleipner, strategy vice president for EPN and vice president for Bergen operations.

Before joining Statoil in 1973, Grinrod worked in the petroleum department at the Norwegian Ministry of Trade and Industry.