Grane field interests redistributed

In accordance with the agreement between the partners on the Grane field in the North Sea, the distribution of interests in production licenses PL001 and PL169B1 have been updated.

Offshore staff

OSLO -- In accordance with the agreement between the partners on the Grane field in the North Sea, the distribution of interests in production licenses PL001 and PL169B1 have been updated.

Production license PL001 now accounts for 22.82% of the Grane Unit, whereas PL169B1 accounts for 77.18%.

Following the adjustment the distribution of interests in the Grane Unit is as follows:

StatoilHydro 36.6605%
Petoro 28.9425%
ExxonMobil 28.226%
ConocoPhillips 6.1744%

Production and costs will be reallocated in accordance with the new distribution of interests in the Grane Unit. The implementation of this adjustment is subject to government approval.

01/13/2009

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