Mariner – a project in the making20 December 2012

2012-12-21

Statoil makes investment decision on Mariner

• Largest CAPEX commitment on the UKCS for over a decade

− Gross investment of more than USD 7 billion (half to be spent between 2013-2017)

• Statoil’s experience and technology will unlock large reserves

− Approx. 2 billion boe in place (100%)− More than 250 mboe reserves

• Production for 30 years− Approx. 55,000 bbls/d over the

plateau period 2017-2020

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Mariner is part of the corporate strategy

• World’s largest offshore operator and a key player in the North Sea

• Solid heavy-oil experience from Norway, Brazil, Canada and Venezuela – supported by a strong R&D focus

• First operator to present commercial development plan for Mariner

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Mariner – Overview

Background

• Block 9/11a, Licence P335

• 150 km east of the Shetlands

• First discovered in 1981

• Statoil built a material operated position

− Acquired 44.4% of the field in 2007 and took operational role

− Additional 20.67% in 2010

Partnership

Statoil (Operator) 65.1%

JX Nippon Exploration and Production (U.K.) Limited

28.9%

Cairn Energy PLC 6.0%

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Mariner field specifications

• Reservoirs:

− Maureen formation at 1,492m

− Heimdal reservoir at 1,227m

• Heavy oil

• Oil with API gravities of 12.1° to 14.2°

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• Production, drilling and living quarters (PDQ) platform

• Floating storage unit (FSU)

• Jack-up drilling rig during first 4-5 years

• First oil: 2017

• Projected oil reserves: more than 250 million barrels

The field development concept

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The field development concept – details

PRODUCTION, DRILLING AND LIVING QUARTERS (PDQ)

FSU – FLOATING STORAGE UNIT

JACK-UP RIG

• Integrated PDQ steel jacket

• Oil, gas and produced water separation

• Drilling module with one Intervention & Completion Unit (ICU)

• Process design: 80 000 bbl/d of total oil including diluent and 320 000 bbl/d of total liquid

• Living Quarters design for 160 POB

• A traditional ship-shape solution

• Crude oil storage and offloading

• Diluent import, storage and transfer to platform

• Situated 2.5 km from the platform

• Storage capacity of 850,000 barrels

Jack-up rig assisting drilling during the first 4-5 years of operations

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Aberdeen

Projected benefits for the UK

• Significant tax revenues

• Operations centre in Aberdeen

• 700 long term jobs

• Knowledge and technology transfer for future UK projects

• Local contractors for support services, maintenance & modifications

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Strategic context of Mariner for Statoil

• A natural expansion of Statoil’s lead role in the North Sea basin

• First move into a major development field in the UK

• Developing competence and technology to unlock new heavy oil fields worldwide

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www.statoil.com

2012-12-2110