Davis Polk advised J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC as joint book-running managers on an SEC-registered offering by Statoil ASA of $3 billion principal amount of notes guaranteed by its operating subsidiary, Statoil Petroleum AS. The offering consisted of $500 million principal amount of floating-rate notes due 2017, $750 million principal amount of 1.25% notes due 2017, $750 million principal amount of 2.25% notes due 2019, $500 million principal amount of 2.75% notes due 2021 and $500 million principal amount of 3.25% notes due 2024.

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.  

The Davis Polk corporate team included partner John W. Banes and associates Phillip G. Sharp, Johanna R. Collins-Wood and Taylor Hedrick. Partner John D. Paton and associate Sarah Joy provided tax advice. Counsel Jeanine P. McGuinness provided regulatory advice. Members of the Davis Polk team are based in the London and Washington DC offices.