Nordic Petroleum selects CB Richard Ellis

11 March 2009

In one of the most significant real estate services contracts ever to come out of Norway, CB Richard Ellis Group, Inc. (NYSE: CBG) announced today that it has been selected by StatoilHydro ASA (OSE: STL, NYSE: STO) as its preferred global real estate provider of transaction and project management services. StatoilHydro’s six million square foot global portfolio consists of over 70 properties in 40 countries.

StatoilHydro sought to establish a partnership with a global real estate advisor with a proven track record of delivering a real estate strategy that is capable of supporting the growth and expansion of its international business operations. This, coupled with CBRE’s ability to deliver a comprehensive range of real estate services on a truly global basis, were key determining factors in CBRE’s selection.

Matthew Pullen, Head of CBRE Global Corporate Services, EMEA, said: “This engagement represents a great vote of confidence in CBRE’s global and emerging markets platform. We are delighted that one of Norway’s largest and most respected companies has chosen to work with our firm and I am confident our new relationship will serve as a strong enabler for StatoilHydros’ global growth plans.”

Svein Harald Storli, Vice President of Facilities Management Services in Global Business Services at StatoilHydro, said: “The appointment of CBRE as StatoilHydro’s global real estate partner is an important step in the development of our integrated global business support infrastructure. As the pace of business activity continues to intensify, our ability to leverage enhanced capabilities from strategic partners is critical. Our new relationship with CBRE will enhance our ability to deliver a robust property services offering to our businesses worldwide.”

StatoilHydro ASA was formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro. StatoilHydro is one of the largest offshore oil and gas companies in the world and the largest company by revenue in the Nordic region. The company is a fully-integrated petroleum company with production operations in 13 countries and retail operations in eight countries.