Davis Polk & Wardwell LLP advised Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. as joint book-running managers on an SEC-registered offering by Statoil ASA of $2 billion principal amount of notes guaranteed by Statoil Petroleum AS. The offering consisted of $1.25 billion principal amount of 3.125% notes due 2017 and $750 million principal amount of 5.1% notes due 2040.

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 partners John W. Banes and Jeffrey M. Oakes and associates Amit Singh, Phillip G. Sharp and Fiona Watson of the London office. Partner John D. Paton and associates Kent Heggerud and Adam B. Perry of the London office provided tax advice.