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Commencement of Subscription Period for the Dividend Issue for the Q1 of 2017

Source: www.gulfoilandgas.com 8/28/2017, Location: Europe

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Reference is made to the previous announcements by Statoil ASA (STL) regarding the resolution made by the annual general meeting on 11 May 2017 to continue the two year scrip dividend programme commencing from the fourth quarter 2015 (the "Scrip Dividend Programme").

Further reference is made to the resolution by the board of directors on 3 May 2017 to distribute a dividend of USD 0.2201 (NOK 1.7494, as announced 15 August 2017) per share for the first quarter 2017 that shareholders can choose to receive either in new shares of the Company ("Dividend Shares") or in cash.

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