The high investment activity in Angola reflects investments made in Gimboa amounting to NOK 0.4 billion, Pazflor receiving NOK 1.8 billion and PSVM development in Block 31, NOK 0.7 billion. In 2008, StatoilHydro made investments of approximately NOK 16 billion in Brazil.

In 2008 our investments in the USA amounted to NOK 13.6 billion, the figures reflecting the acquisition of Marcellus Shale and the development of offshore fields in the Gulf of Mexico such as Tahiti and Thunder Hawk.

The investment figures for Norway reflect a generally high level of investment activity on the NCS as well as the acquisition of a 15% share in Goliat. Major development projects in 2008 included Skarv, amounting to NOK 2.3 billion, Tyrihans which cost NOK 2.1 billion, Gjøa which cost NOK 2.0 billion, Statfjord Late Life at NOK 1.5 billion, Alve at NOK 1.4 billion, and Morvin at NOK 1.1 billion. Investment figures increased significantly from 2007 to 2008 because of increased activity on the NCS.

We have not received any significant financial assistance from any government.

Including partner-operated fields our international business made social investments in the magnitude of approximately NOK 111 million in 2008 and NOK 99 million in 2007. Not including partner-operated fields in Norway, we made social investments amounting to NOK 233 million in 2008 and NOK 241 million in 2007. In 2008 the biggest social investments outside of Norway were made in Angola, Algeria, Azerbaijan, Russia and Venezuela. In 2007 Russia was not a recipient of social investments and Venezuela received almost three times as much as it did in 2008. Social investments are part of our business and social responsibility plans for countries in which we operate.

These investments are spread over different projects which all fall under our three priority areas: transparency and anti-corruption, human rights and labour standards, and local spin-offs. These investments support our core business by creating common interests with our stakeholders in the host countries in which we operate.

Social investments are based on commercial considerations and they aim to produce sustainable economic activity. We endeavour to avoid creating dependency and supporting unproductive projects.

In 2008, we adjusted the definition of social investments we had used in the past. We now use an adapted version of the London Benchmarking Group definition for social investments which includes voluntary contributions such as charitable donations, community investments, other social investments which are not specifically targeted at communities within the direct area of impact, and management costs. Charitable donations include philanthropic donations and gifts such as 'cheque-writing' and associated activities. A community investment refers to projects that is targeted at fence-line communities or those within the project's direct area of impact. Other investments include social investment projects that do not necessarily target a specific community, but may be more regional or national level investments. Management costs generally refer to the salary cost spent managing these types of social investments. The total also includes investments made due to contractual obligations arising from licencing agreements and other contractual obligations. Data for the year 2007 were adjusted to reflect the revised methodology and definition.