Statoil ASA is a Norwegian-registered public limited liability company with its primary listing on the Oslo Stock Exchange (Oslo Børs), and the foundation for the Statoil group's governance structure is Norwegian law. 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.

For the board, good corporate governance is a prerequisite for a sound and sustainable company, and our corporate governance is based on openness and equal treatment of our shareholders. Our governing structures and controls help to ensure that we run our business in a justifiable and profitable manner for the benefit of our employees, shareholders, partners, customers and society.

We continuously consider prevailing international standards of best practice when defining and implementing company policies, as we believe that 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 addresses 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 under the heading Risk management and internal control.

We also focus on managing the impacts of our activities on people, society and the environment, in line with our corporate policies for corporate social responsibility (CSR) and health, safety and the environment (HSE). Areas covered by these policies include human rights and labour standards, transparency and anti-corruption, local hiring and procurement, health and safety, the working environment, security, and broader environmental issues.

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