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de los clientes de la línea relleno

ANEXO X: Dimensionamiento del Proceso de producción Mercado Local y Exterior

Ecuación 5:Satisfacción de los clientes de la línea relleno

The tables below include Statoil’s selected audited consolidated financial information as of and for each of the years ended December 31, 2006, 2005, 2004, 2003 and 2002, in accordance with U.S. GAAP. The information in this table is only a summary and should be read in conjunction with and is qualified in its entirety by reference to Statoil’s audited consolidated financial statements and the related notes to the financial statements in the Statoil 2006 Form 20-F. Solely for the convenience of the reader, the financial data at the twelve months ended December 31, 2006 have been translated into U.S. dollars at the rate of NOK 6.2287 to U.S. $1.00, the noon buying rate on December 29, 2006.

Year Ended December 31,

2006 2005 2004 2003 2002

NOK USD NOK NOK NOK NOK

(in millions, except per share amounts)

Income Statement Revenues:

Sales ************************* 423,528 67,996 384,653 299,015 244,817 238,845 Equity in net income (loss) of

affiliates********************* 410 66 1,090 1,209 616 352

Other income******************* 1,228 197 1,668 1,219 207 1,250

Total revenues******************** 425,166 68,259 387,411 301,443 245,640 240,447 Expenses:

Cost of goods sold************** (239,544) (38,458) (230,721) (184,234) (146,832) (145,365) Operating expenses************** (34,320) (5,510) (30,243) (27,258) (26,569) (28,229) Selling, general and administrative

expenses********************* (6,990) (1,122) (7,189) (5,720) (4,845) (4,646) Depreciation, depletion and

amortization****************** (21,767) (3,495) (20,962) (17,318) (16,151) (16,732) Exploration expenses ************ (5,664) (909) (3,253) (1,828) (2,370) (2,410) Total expenses before financial items (308,285) (49,494) (292,368) (236,358) (196,767) (197,382) Income before financial items, other

items, income taxes and minority

interest************************ 116,881 18,765 95,043 65,085 48,873 43,065 Net financial items **************** 4,814 773 (3,512) 5,755 1,417 8,267

Other items********************** — — — — (6,025) —

Income before income taxes and

minority interest **************** 121,695 19,538 91,531 70,840 44,265 51,332 Income taxes********************* (80,360) (12,902) (60,036) (45,419) (27,422) (34,333) Minority interest****************** (720) (116) (765) (505) (289) (153) Net income ********************** 40,615 6,521 30,730 24,916 16,554 16,846 Ordinary and diluted earnings per

share(1)************************ 18.79 3.02 14.19 11.50 7.64 7.78

Dividend per share(2)*************** 9.12 1.46 8.20 5.30 2.95 2.90

(1) The weighted average number of shares outstanding was 2,161,028,202, 2,165,740,054, 2,166,142,636, 2,166,143,693 and 2,165,422,239 in 2006, 2005, 2004, 2003 and 2002, respectively.

(2) See ‘‘Item 3 — Key Information — Dividends’’ and ‘‘Item 8 — Financial Information — Dividend Policy’’

in the Statoil 2006 Form 20-F for a description of how dividends are determined and share repurchases.

At December 31,

2006 2005 2004 2003 2002

NOK USD NOK NOK NOK NOK

(in millions)

Balance Sheet Assets:

Cash and cash equivalents************** 7,367 1,183 7,025 5,028 7,316 6,702 Short-term investments***************** 1,031 166 6,841 11,621 9,314 5,289 Accounts receivable ******************* 41,273 6,627 42,816 31,007 29,935 33,623 Accounts receivable — related parties

Inventories************************* 11,872 1,906 8,369 6,858 4,894 5,349 Prepaid expenses and other current assets** 15,538 2,495 12,815 11,710 8,801 8,275 Total current assets******************** 77,081 12,375 77,866 66,224 60,260 59,238 Investments in affiliates **************** 4,917 790 4,352 10,258 10,944 9,568 Long-term receivables****************** 6,855 1,101 9,618 8,070 14,111 6,968 Net properties, plants and equipments***** 209,601 33,656 180,669 151,993 125,720 121,569 Other assets************************** 17,014 2,732 16,474 11,698 10,565 8,087 Total Assets************************** 315,468 50,647 288,979 248,243 221,600 205,430 Liabilities and Shareholders’ Equity:

Short-term debt*********************** 5,515 885 1,529 4,730 4,287 4,323 Accounts payable********************* 22,373 3,592 22,518 18,893 17,832 19,482 Accounts payable — related parties******* 7,551 1,212 9,766 5,621 6,114 5,649 Accrued liabilities********************* 12,148 1,950 14,030 12,937 11,665 11,779 Income taxes payable****************** 30,219 4,852 29,752 19,119 17,664 18,340 Total current liabilities***************** 77,806 12,492 77,595 61,300 57,562 59,573 Long-term debt*********************** 30,271 4,860 32,564 31,351 32,991 32,805 Deferred income taxes ***************** 44,987 7,223 43,314 44,233 37,815 43,129 Other liabilities*********************** 38,711 6,215 27,370 24,713 21,575 11,356 Total liabilities *********************** 191,775 30,790 180,843 161,597 149,943 146,863 Minority interest********************** 1,465 235 1,492 1,616 1,483 1,550 Common stock (NOK 2.50 nominal

value)(1) *************************** 5,415 869 5,474 5,474 5,474 5,474 Treasury shares(2) ********************* (54) (9) (156) (60) (59) (59) Additional paid-in capital*************** 33,761 5,421 37,305 37,273 37,728 37,728 Retained earnings********************* 88,262 14,172 65,401 46,153 27,627 17,355 Accumulated other comprehensive income (5,156) (828) (1,380) (3,810) (596) (3,481) Total shareholders’ equity ************** 122,228 19,626 106,644 85,030 70,174 57,017 Total Liabilities and Shareholders’ Equity 315,468 50,647 288,979 248,243 221,600 205,430 (1) The number of shares authorized and issued was 2,189,585,600 prior to the cancellation of 23,441,885 treasury shares in 2006. The number of shares authorized and issued was 2,166,143,715 as at year-end 2006.

(2) The number of treasury shares at year-end in each of the five years presented was 21,399,616; 24,208,212;

23,452,876; 23,441,885 and 23,441,885 in 2006, 2005, 2004, 2003 and 2002, respectively.

Other financial information

Year Ended December 31,

2006 2005 2004 2003 2002

Net debt to capital employed (GAAP basis)(1)********************** 18.1% 15.8% 18.3% 22.4% 30.0%

Net debt to capital employed(2)********************************** 16.8% 15.1% 18.9% 22.6% 28.7%

After-tax return on average capital employed (GAAP basis)(3)********* 26.8% 27.6% 23.6% 18.6% 14.7%

After-tax return on average capital employed(4)********************* 27.1% 27.6% 23.5% 18.7% 14.9%

(1) As calculated according to GAAP. Net debt to capital employed is the net debt divided by capital employed.

Net debt is interest-bearing debt less cash and cash equivalents and short-term investments. Capital employed is net debt, shareholders’ equity and minority interest.

(2) As adjusted. In order to calculate the net debt to capital employed ratio that Statoil’s management makes use of internally and that Statoil reports to the market, Statoil makes adjustments to capital employed as it would be reported under GAAP to adjust for project financing exposure that does not correlate to the underlying exposure (adjustments amounted to NOK 2,443 million in 2006, NOK 2,623 million in 2005, NOK 2,209 million in 2004, NOK 1,500 million in 2003 and NOK 1,567 million in 2002) and to add into the capital employed measure interest-bearing elements that are classified together with non-interest-bearing elements under GAAP of NOK 1,783 million in 2005, NOK 2,995 million in 2004 and NOK 1,758 million in 2003, with no corresponding adjustments in 2006 or 2002. See ‘‘Item 5 — Operating and Financial Review and Prospects — Use and Reconciliation of Non-GAAP Financial Measures’’ in the Statoil 2006 Form 20-F for a reconciliation of capital employed and a description of why we make use of this measure.

(3) As calculated in accordance with GAAP. After-tax return on average capital employed (ROACE) is equal to net income before minority interest and before after-tax net financial items, divided by average capital employed over the last 12 months.

(4) As adjusted. This figure represents ROACE computed on the basis of capital employed, adjusted as indicated in footnote 2 above. See ‘‘Item 5 — Operating and Financial Review and Prospects — Use and Reconcilia-tion of Non-GAAP Financial Measures’’ in the Statoil 2006 Form 20-F for a reconciliaReconcilia-tion of return on average capital employed and a description of why Statoil makes use of this measure.

Hydro Petroleum

The tables below include Hydro Petroleum’s selected carve-out combined financial information as of and for each of the years ended December 31, 2006, 2005, 2004, 2003 and 2002, in accordance with U.S. GAAP. The selected carve-out combined financial information as of December 31, 2006 and 2005 and for each of the three years in the period ended December 31, 2006 have been derived from the audited carve-out combined financial statements of Hydro Petroleum and the related notes included elsewhere in this circular/prospectus. The selected combined financial information as of December 31, 2004, 2003, and 2002 and for each of the two years in the period ended December 31, 2003 have been derived from the unaudited combined financial statements of Hydro Petroleum and related notes which are not included in this circular/prospectus. The information in this table is only a summary and the financial information therein should be read in conjunction with and is qualified in its entirety by reference to Hydro Petroleum’s audited carve-out combined financial statements and the related notes included elsewhere in this circular/prospectus. Solely for the convenience of the reader, the selected financial data as of and for the year ended December 31, 2006 have been translated into U.S. dollars at the rate of NOK 6.2287 to U.S. $1.00, the noon buying rate on December 29, 2006.

Income statement data

Year ended 31 December

2006 2005 2004 2003 2002

NOK million (except per share data) NOK USD NOK NOK NOK NOK

(in millions, except per share amounts)

Operating revenues******************** 95,138 15,274 80,806 66,238 54,695 57,846 Depreciation, depletion and amortization ** 18,202 2,922 10,518 10,315 9,602 8,982 Other operating costs ****************** 32,519 5,221 28,474 26,144 25,338 34,406 Operating income********************* 44,417 7,131 41,814 29,778 19,755 14,458 Equity in net income on non-consolidated

investees ************************** 201 32 102 73 131 180

Financial income (expense), net********** 926 149 (2,073) (716) 470 393

Year ended 31 December

2006 2005 2004 2003 2002

NOK million (except per share data) NOK USD NOK NOK NOK NOK

(in millions, except per share amounts)

Other income (loss) net**************** 53 9 66 58 (1,718) 77

Income from continuing operations before

tax and minority interest ************* 45,597 7,320 39,909 29,193 18,638 15,108 Income tax expense ******************* (35,213) (5,653) (28,972) (20,891) (12,224) (11,337) Income before cumulative effect of change

in accounting principle*************** 10,384 1,667 10,937 8,302 6,413 3,771 Cumulative effect of change in accounting

principle*************************** — — — — 282 —

Net income************************** 10,384 1,667 10,937 8,302 6,695 3,771 Basic and diluted earnings per share from

continuing operations (in NOK) 1) 2)*** 8.40 1.35 8.70 6.50 5.00 2.90 Basic and diluted earnings per share before

change in accounting principles (in

NOK) 1) 2)************************ 8.40 1.35 8.70 6.50 5.00 2.90

Basic and diluted earnings per share (in

NOK)***************************** 8.40 1.35 8.70 6.50 5.20 2.90

Weighted average number of outstanding

shares (million)********************* 1,241 1,241 1,254 1,272 1,288 1,289 1) Basic earnings per share are computed using the weighted average number of ordinary shares outstanding.

There were no diluting elements.

2) Previously reported earnings per share and total number of outstanding shares have been adjusted to reflect the 5-for-1 stock split effective May 10, 2006.

Balance sheet data

Year Ended December 31,

2006 2005 2004 2003 2002

NOK million NOK USD NOK NOK NOK NOK

(in millions, except per share amounts)

Cash, cash equivalents and short-term

investments******************** 153 25 203 190 274 98

Total assets********************** 128,146 20,573 127,596 93,566 92,832 89,311

Short-term debt******************* 1,146 184 2,175 1,847 2,117 1,799

Long-term debt******************* 15,291 2,455 16,322 14,487 20,840 22,088 Deferred tax liabilities ************* 26,341 4,229 30,613 26,271 27,105 28,666 Total shareholder’s equity ********** 33,071 5,309 36,399 19,069 17,143 15,750