Consolidated Balance Sheets (in NOK millions, year ended December 31) 2005 2004 Assets Cash and cash equivalents 7,025 5,028 Short-term investments 6,841 11,621 Cash, cash equivalents, and short-term investments 13,866 16,649 Accounts receivable 43,361 31,736 Inventories 8,635 6,971 Prepaid expenses and other current assets 10,989 9,713 Total Current Assets Investments in affiliates Long-term receivables Net property, plant, and equipment Other assets Total Assets 76,851 65,069 4,451 10,339 9,691 8,176 181,481 152,916 16,505 11,743 288,979 248,243 (continued on next page) Liabilities and Shareholders' Equity EXHIBIT 3 (continued) 2005 2004 Short-term debt 1,529 4,730 Accounts payable Accrued liabilities Income taxes payable 23,262 19,282 Accounts payable-Related parties 9,766 5,621 13,145 12,385 29,750 19,117 Total current liabilities 77,452 61,135 Long-term debt 32,669 31,459 Deferred income taxes 43,347 44,270 Other liabilities 27,375 24,733 Total Liabilities 180,843 161,597 Minority interest 1,492 1,616 Common stock (NOK 2.50 nominal value), 2,189,585,600 shares 5,474 5,474 authorized and issued Treasury shares, 24,208,212 and 23,452,876 shares (156) (60) Additional paid-in capital 37,304 37,273 Retained earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity 65,402 46,153 Accumulated other comprehensive income (loss) (1,380) (3,810) 106,644 85,030 288,979 248,243 Operating Activities Consolidated net income Consolidated Statements of Cash Flows (in NOK millions, year ended December 31) Adjustments to reconcile net income to net cash flows provided by 2005 2004 2003 30,730 24,916 16,554 operating activities: Minority interest in income 765 505 289 Depreciation, depletion, and amortization 21,097 17,456 16,276 Exploration expenditures written off 158 110 256 (Gains) losses on foreign currency transactions 1,330 (1,919) 781 Deferred taxes (5,078) 5,006 (6,177) (Gains) losses on sales of assets and other items (1,605) (1,531) 5,719 Changes in working capital (other than cash and cash equivalents): (Increase) decrease in inventories (1,664) (1,645) 349 (Increase) decrease in accounts receivable (11,625) (1,149) 2,054 (Increase) decrease in prepaid expenses and other current assets (1,842) (4,590) (1,511) (Increase) decrease in short-term investments 4,780 (2,307) (4,047) Increase (decrease) in accounts payable 7,923 (147) (949) Increase (decrease) in other payables 282 1,449 2,436 Increase (decrease) in taxes payable 10,522 1,387 (682) (Increase) decrease in non-current items related to operating activities 477 1,266 (551) Cash Flows Provided by Operating Activities 56,250 38,807 30,797 (continued on next page) Investing Activities Acquisitions, net of cash acquired EXHIBIT 3 (continued) 2005 2004 2003 (13,154) 0 0 Additions to property, plant, and equipment Exploration expenditures capitalized Change in long-term loans granted and other long-term items Proceeds from sale of business Proceeds from sale of assets Cash Flows Used in Investing Activities New long-term borrowings (31,389) (31,800) (22,075) (1,242) (748) (331) (734) (2,650) (7,682) 7,802 0 0 1,053 3,239 6,890 (37,664) (31,959) (23,198) Financing Activities 422 4,599 3,206 Repayment of long-term borrowings (3,187) (6,574) (2,774) Distribution to minority shareholders (910) (559) (356) Dividends paid (11,481) (6,390) (6,282) Net short-term borrowings, bank overdrafts, and other (1,358) (131) (1,656) Cash flows used in financing activities (16,514) (9,055) (7,862) Net increase (decrease) in cash and cash equivalents 2,072 (2,207) (263) Effect of Exchange Rate Changes on Cash and Cash Equivalents (75) (81) 877 Cash and cash equivalents at the beginning of the year 5,028 7,316 6,702 Cash and cash equivalents at the end of the year 7,025 5,028 7,316 Supplementary Information Interest paid 2,004 1,179 1,336 Taxes paid 54,625 38,844 34,230 EXHIBIT 2 Selected Historical Financial Items for Statoil ASA (in millions, except per share amounts, year ended December 31) 2005 2004 2003 2002 2001 NOK USD NOK NOK NOK NOK Total revenues 393,298 58,315 306,218 249,375 243,814 236,961 Income before financial items, 95,096 14,100 65,107 48,916 43,102 56,154 other items, income taxes and minority interest Net financial items (3,562) (528) 5,739 1,399 Income taxes (60,039) (8,902) (45,425) (27,447) 8,233 (34,336) 65 (38,486) Minority interest (765) (113) (505) (289) (153) (488) Net income 30,730 4,556 24,916 16,554 16,846 17,245 Ordinary and diluted earnings 14.19 2.1 11.5 7.64 7.78 8.31 per share Dividend paid per share 8.2 1.22 5.3 2.95 2.9 26.69 Cash and cash equivalents 7,025 1,042 5,028 7,316 6,702 4,395 Accounts receivable 43,361 6,430 31,736 30,192 33,950 27,739 Inventories 8,635 1,280 6,971 4,993 5,422 5,276 Total current assets 76,851 11,395 66,047 59,169 58,197 48,657 Total Assets 288,979 42,850 249,221 221,600 205,430 199,695 Short-term debt 1,529 227 4,730 4,287 4,323 6,613 Total current liabilities 77,452 11,485 61,135 57,508 59,523 58,196 Long-term debt 32,669 4,844 31,459 32,991 32,805 35,182 Total shareholders' equity 106,644 15,813 85,030 70,174 57,017 51,774 EXHIBIT 3 Statoil ASA's Financial Statements Consolidated Statements of Income (in NOK millions, year ended December 31) 2005 2004 2003 Revenues Sales 390,540 303,756 248,527 Equity in net income of affiliates 1,090 1,209 616 Other income 1,668 1,253 232 Total revenues 393,298 306,218 249,375 Expenses Cost of goods sold (235,722) (188,179) (149,645) Operating expenses (30,327) (27,350) (26,651) Selling, general, and administrative expenses (7,803) (6,298) (5,517) Depreciation, depletion and amortization (21,097) (17,456) (16,276) Exploration expenses (3,253) (1,828) (2,370) Total Expenses before Financial Items (298,202) (241,111) (200,459) Income before financial items, other items, 95,096 65,107 48,916 income taxes, and minority interest Net financial items (3,562) 5,739 1,399 Other items 0 0 (6,025) Income before income taxes and minority interest 91,534 70,846 44,290 Income taxes (60,039) (45,425) (27,447) Minority interest (765) (505) (289) Net Income Ordinary and diluted earnings per share Weighted average number of ordinary shares outstanding 30,730 24,916 16,554 14.19 11.50 7.64 2,165,740,054 2,166,142,636 2,166,143,693