STAVANGER, Norway, Nov. 21, 2016 (GLOBE NEWSWIRE) -- NOT FOR RELEASE IN OR INTO CANADA, JAPAN, AUSTRIA, POLAND, ESTONIA, ICELAND OR ANY OTHER JURISDICTION IN WHICH THE RELEASE WOULD BE UNLAWFUL Reference is made to the previous announcements by Statoil ASA (OSE:STL, NYSE:STO, the "Company") regarding the resolution made by the annual general meeting on 11 May 2016 to approve the two year scrip dividend programme commencing from the fourth quarter 2015 (the "Scrip Dividend Programme") and to distribute a dividend of USD 0.2201 (NOK 1.8068, as announced 9 November 2016) per share for the second quarter 2016 that shareholders can choose to receive either in new shares of the Company ("Dividend Shares") or in cash. In connection with the Scrip Dividend Programme for the second quarter 2016 (the "Dividend Issue"), the Company will issue up to 160,000,000 Dividend Shares, each with a nominal value of NOK 2.50 per share, for subscription by Existing Shareholders (as described below). A prospectus will not be prepared for the Dividend Issue. The Terms and Conditions for subscription of Dividend Shares are available on www.statoil.com/scrip. Subscription period: The subscription period for the Dividend Issue will commence at 09:00 a.m. CET on 21 November 2016 and expire at 23:59 p.m. CET on 2 December 2016 (the "Subscription Period"). The subscription period for holders of American Depositary Receipts (ADRs) will be set by Deutsche Bank Trust Company Americas as the depositary for the ADR program in the US. Existing Shareholders who have not subscribed for Dividend Shares at the time of expiry of the Subscription Period will receive their dividend in cash without any action on their part on or about 16 December 2016 in respect of shareholders on Oslo Børs (Oslo Stock Exchange) and on or about 19 December 2016 in respect of ADR holders on New York Stock Exchange.