Financial statements 2002 - Statoil

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Financial statements 2002 - Statoil

Statoil group – NGAAP Statoil group – NGAAP – notes Statoil ASA – NGAAP

38

Significant components of deferred income tax liability

AT DECEMBER 31,

(IN NOK MILLION) 2002 2001

Impairment 363 376

Decommissioning 4,606 4,146

Other 929 2,137

Total deferred tax assets 5,898 6,659

Property, plant and equipment 34,364 33,732

Capitalized exploration expenditures and interests 7,845 7,891

Other 337 2,566

Total deferred tax liabilities 42,546 44,189

Net deferred income tax liability 36,648 37,530

A valuation allowance has been provided as Statoil believes that available evidence creates sufficient uncertainty as to the realizability of certain

deferred tax assets. Statoil will continue to assess the valuation allowance and to the extent it is determined that such allowance is no longer

required, the tax benefit of the remaining net deferred tax assets will be recognized in the future.

Income taxes payable in the balance sheet consists of the following

(IN NOK MILLION) AT DECEMBER 31, 2002

Current tax in the income statement 33,572

Taxes paid in instalments (14,550)

Current tax on group contribution (1,346)

Other 241

Income taxes payable 17,917

The movement in deferred income tax liability can be specified as follows

(IN NOK MILLION) 2002

Deferred income tax liability at beginning of year 37,530

Charged to the income statement (1,139)

Other and translation adjustments 257

Deferred income tax liability at end of year 36,648

STATOIL 2002

NOTES TO FINANCIAL STATEMENTS STATOIL ASA – NGAAP

Statoil ASA – NGAAP notes

To the Annual

General Meeting

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