Davis Polk advised Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Merrill, Lynch, Pierce, Fenner & Smith Incorporated as joint book-running managers on an SEC-registered offering by Statoil ASA of $1.75 billion principal amount of notes guaranteed by its operating subsidiary, Statoil Petroleum AS. The offering consisted of $650 million principal amount of 1.8% notes due 2016, $750 million principal amount of 3.15% notes due 2022 and $350 million principal amount of 4.25% notes due 2041.

Based in Norway, Statoil ASA is an integrated, major international oil and gas company, primarily focused on the exploration, development and production of oil and natural gas worldwide, and is the leading producer of crude oil and gas on the Norwegian Continental Shelf. It is also the largest corporate owner in the world’s largest offshore pipeline network. 

The Davis Polk corporate team included partner John Banes and associates Phillip G. Sharp and Winnie Ling. Associate Jeanine P. McGuinness provided regulatory advice. Partner John D. Paton and associates Adam B. Perry and Sarah Joy provided tax advice. All members of the Davis Polk team are based in the London and Washington DC offices.