Statoil, being listed on the Oslo Stock Exchange, must annually report on compliance with the Norwegian Code of Practice for Corporate Governance from the Norwegian Corporate Governance Board (the "Code") and possible deviations from the Code must be explained. The Code covers 15 topics, and the statement shall cover each of these topics.
 
Statoil's board of directors has endorsed the Code and states that Statoil has complied with the Code throughout 2009.