Video Notes re Taikaha

Submission:
Statoil AGM 19 May 2015
See Statoils AGM website at
http://www.statoil.com/en/NewsAndMedia/Calendar/Pages/AnnualGeneralMeeting
2015.aspx.
Discussion on shareholder (World Wildlife Fund and Greenpeace) proposal 7 (to
bring greater monitoring and accountability through stress test reporting)
begins around 46:00 mins into the video. At around 52:30 mins in, a
Greenpeace representative mentions that a presentation by New Zealand will be
made later in the AGM. At around 56:30 in, the floor was opened for comments
(a maximum of 3 minutes speaking time only).
At around 57:50, Taikaha member Mike Smith addresses the AGM. Verbatim
transcript follows:
Thank you Madam Chairman, Chairman of the Board, company officials, ladies and
gentleman.
My names Mike Smith. Ive travelled here from New Zealand. Im representing the tribal
nations and indigenous self-government of the Mori people of New Zealand. And we, Ive
been charged to bring you the message to say that you dont have our permission to be in our
tribal waters. Youre acting ultra vires of an agreement that we have with the New Zealand
Government that guarantees our indigenous rights. And as a result, were takinglegal
proceedings have been filed this week against deep water oil drilling within our traditional
waters.
In addition, we will be lodging complaints with the United Nations for the breach of our
human rights in regard to the Convention 169, the ILO [International Labour Organization]
Convention 169 which [the] Norwegian Government is a signatory to.
And I know its been a difficult time for the oil industry, in the last six or seven months or so,
and thats something thats largely out of your control. But equally, these matters that are
internal to New Zealand that affect your company are also out of your control. And we, as
the indigenous people of that, of our country, we are also out of your control as well.
So I do appreciate that this is not a matter that you do have a lot of control over, but I have
been sent here as a representative of the leadership of our tribal nations to bring this message
to you, that we wish that you exit your permit and surrender your permit at the earliest
opportunity. Thanks very much.
And I would like to present you with these letters of introduction as well.
Several speakers followed with submissions supporting improved Statoil policies
concerning climate change concerns.
At around 1:14:56 mins in, the Chair of the Board and the CEO were invited to
respond.

At around 1:24:09, the CEO makes the following statements regarding Taikahas
address to the AGM:
When it comes to our activities in New Zealand, we have accessed five exploration licenses.
Its important to underline that its still very early days for Statoil in New Zealand. We have
done some multi-client seismic activities. Its still a long way to get to a conclusion that it is
relevant to actually do drilling activities. In fact were talking about several years. I can
assure you that safe operations is at the very, very top of our agenda in whatever type of
business that were doing.
Going forward, its very important for us to sort of, to maintain a dialogue with stakeholders,
and also including Mori representatives. Its very important for us. And were doing that.
You know, weve had several meetings and have a continuous dialogue. And that dialogue is
very important for us. It is important that we consult and listen to views that you might have.
But also to inform about the activities that we are pursuing, and explain.
When it comes to the legal aspects of this business, this is a matter that has to be addressed
with the New Zealand authorities. Statoil is confident that it recognizes, fully recognizes the
rights and values of indigenous people and our responsibility is to proceed in accordance
with the license terms and conditions that has been outlined by the licenses that were
awarded by the New Zealand authorities.
Ultimately the AGM adopted the following resolution re the proposal from two
shareholders put to the floor:
That in order to address our interest in the longer term success of the Company, given the
recognised risks and opportunities associated with climate change, we as shareholders of the
Company direct that routine annual reporting from 2016 includes further information about:
ongoing operational emissions management; asset portfolio resilience to the International
Energy Agency's (IEA's) scenarios; low-carbon energy research and development (R&D) and
investment strategies; relevant strategic key performance indicators (KPls) and executive
incentives; and public policy positions relating to climate change. This additional ongoing
annual reporting could build on the disclosures already made to CDP (formerly the Carbon
Disclosure Project) and/or those already made within the Company's Scenarios,
Sustainability Report and Annual Report.
(Two other shareholder proposals concerning Statoils policy and strategy were
not adopted).
AGM documentation, including the minutes, are downloadable from the
abovementioned Statoil AGM website.
ENDS