We also delivered significant synergies from the merger, and the ongoing integration and standardisation of offshore operations aims to further improve HSE results. These improvements will also increase StatoilHydro's flexibility and efficiency.

With the addition of a strong balance sheet and active cost management, StatoilHydro is well positioned to manage through the global economic downturn. The group has the necessary strength and flexibility to pursue its long-term strategic direction.

A downturn also represents an opportunity for improvements. We seek to reduce our own costs, improve quality and processes and work with our suppliers to bring industry costs down to more sustainable levels. The ongoing integration and standardisation of operational activities is a key element in our improvement agenda.

The following tables show selected consolidated financial and statistical data for StatoilHydro. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union (EU). The accounting policies applied by the group also comply with IFRSs as issued by the International Accounting Standards Board (IASB).