Norwegian National Authority For Investigation And Prosecution Of Economic And Environmental Crime News

Statoil ASA has accepted a fine of $500,000 by Økokrim for breaches of certain formal requirements in the Securities Trading Act section 3-5 in connection with the Johan Sverdrup discovery stock market announcement 16 August 2011. The breaches relate to lack of compliance with formal requirements such as not listing the date, time or correct time for when a number of persons were given access to inside information, not informing all individuals about the duties related to holding inside information and not listing the reason why they had access to such information. In addition, two primary insiders in the company were not included on the list of insiders.