To the stakeholders of StatoilHydro ASA
Scope of engagement
We have been engaged by the corporate executive committee of StatoilHydro to prepare an independent assurance report of StatoilHydro and sustainable development 2007 (the Report). The Report comprises the full web version which also includes the contents of the shortened paper version.
StatoilHydro’s management is responsible for selecting the information, collecting the data for presentation and preparing the Report.
Reporting criteria
As a basis for this assurance engagement, we have used relevant criteria in the sustainability reporting guidelines of the Global Reporting Initiative (GRI G3). Matters of interest to StatoilHydro’s stakeholders have also been taken into account. We consider these reporting criteria to be relevant and appropriate to review the Report.
Work performed
Our work is performed in accordance with SA 3000 (ISAE 3000), “Assurance engagements other than audits or reviews of historical financial information”. The standard requires that we plan and execute procedures in order to obtain limited assurance that the Report as a whole is free of material misstatements. In such an engagement, less assurance is obtained than would be the case had an audit-level engagement been performed. In our assurance work related to the health, safety and environment (HSE) accounting, presented in the Annual Report for 2007 (on pages 173-178 ), the procedures are planned and executed in order to obtain reasonable assurance by sufficient supporting evidence. As the external auditors of StatoilHydro ASA, we have also audited the company’s 2007 Annual financial statements.
Our review has involved the following activities:
- interviews with a selection of StatoilHydro’s management and visits to five entities, as a representative sample of StatoilHydro’s variety of activities, to gain an understanding of their approach to managing social, ethical and HSE issues that are covered in the Report
- obtaining and considering evidence to support the assertions and claims made in the Report
- evaluation of HSE data as stated in our HSE Assurance Report, dated April 8, 2008
- evaluation of the overall presentation of the Report, including the consistency of the information, based on the above-mentioned criteria.
Our review has not included assessing the implementation of policies, other than the HSE reporting policies. The interviews included within the Report and verification of person names in picture captions, have not been part of our review..We have, however, checked that the interviewees have given their approval to the interview text.
Conclusions
Based on our review nothing has come to our attention that causes us to believe that the information in the Report does not comply with the above mentioned reporting criteria. This also counts for StatoilHydro’s declaration that the Report meets the requirements of the B+ application level of the GRI G3 sustainability reporting guidelines.
Stavanger, April 8, 2008
ERNST & YOUNG AS
Erik Mamelund
State authorised public accountant
