The foundation for the Statoil group's governance structure is Norwegian law, with Statoil ASA being a Norwegian registered public limited liability company with its primary listing on the Oslo stock exchange. Our share is also listed on the New York Stock Exchange (NYSE) and we are subject to the listing requirements of NYSE and the requirements of the US Securities and Exchange Commission.

Good corporate governance is a prerequisite for a sound and sustainable company, and it is built on openness and equal treatment of our shareholders. Our governing structures and controls help ensure that we run our business in a justifiable and profitable manner to the benefit of our employees, shareholders, partners, customers and society. We continuously consider prevailing international standards of best practice in defining and exercising company policies as we believe there is a clear link between high quality governance and the creation of shareholder value.

At Statoil, the way we deliver is as important as what we deliver. The Statoil Book, which adresses all Statoil employees, sets the standards for our behaviour, our delivery and our leadership.

Our values guide the behaviour of all Statoil employees. Our corporate values are "courageous", "open", "hands-on" and "caring". Both our values and ethics are treated as an integral part of our business activities. Our Ethics Code of Conduct is further described in item 10.

Our governance and management system is further elaborated on our website, where shareholders and other stakeholders can explore any topic of particular interest in more detail and easily navigate to related documentation.