StatoilHydro's articles of association were adopted at the extraordinary general meeting of 5 July 2007:
Summary of our articles of association
Name of the Company
Our registered name is StatoilHydro ASA. We are a Norwegian public limited company.
Registered office
Our registered office is in Stavanger, Norway, registered with the Norwegian Register of Business Enterprises under number 913 609 016.
Object of the company
The object of our company is, either by us or through participation in or together with other companies, to carry out exploration, production, transportation, refining and marketing of petroleum and petroleum derived products, as well as other businesses.
Share capital
Our share capital is NOK 7,971,617,757.50 divided into 3,188,647,103 ordinary shares.
Nominal value of shares
The nominal value of each ordinary share is NOK 2.50.
Board of directors
Our articles of association provide that our board of directors shall be composed of ten directors. The board, including the chair and the deputy chair, shall be elected by the corporate assembly.
Corporate assembly
We have a corporate assembly of 18 members who are elected for two-year terms. The general meeting elects 12 members with four alternates, and six members with alternates are elected by and among the employees.
Annual general meeting
Our annual general meeting is held no later than June 30 each year upon at least two weeks' written notice.
The meeting will deal with the annual report and accounts, including distribution of dividends, and any other matters required by law or our articles of association.
Marketing of petroleum on behalf of the Norwegian State
Our articles of association provide that we are responsible for marketing and selling petroleum produced under the SDFI's shares in production licences on the NCS as well as petroleum received by the Norwegian State as royalty together with our own production. Our general meeting adopted an instruction in respect of such marketing on 25 May 2001.
Nomination committee
The general meeting decided to amend our articles of association on 7 May 2002 in order to establish a nomination committee (in the articles of association referred to as the "election committee". The tasks of the election committee are to make recommendations to the general meeting regarding the election of and fees for shareholder-elected members and deputy members of the corporate assembly, and to make recommendations to the corporate assembly regarding the election of and fees for shareholder-elected members and deputy members of the board of directors.
