Det norske oljeselskap ASA: Closing of BP Norge Transaction; Registration of Share Capital Increase

Reference is made to previous stock exchange notices by Det norske oljeselskap ASA (the “Company”) regarding the acquisition of BP Norge AS (the “Transaction”).

As part of the closing of the Transaction, the share capital increase as resolved by the Company’s general meeting on 15 September 2016 has been registered in the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret).

Following the registration, the Company’s share capital is NOK 337,737,071 divided into 337,737,071 shares each with a nominal value of NOK 1.

As a consequence of the Transaction, Aker Capital AS now owns a total of 135,098,206 shares in the Company, representing in total 40.001% of the Company’s issued shares, and Amoco Norway Oil Company and BP Global Investments Ltd now respectively own 52,680,837 and 48,628,464 shares in the Company, representing in total 30.00% of the Company's issued shares.

Contacts:
Investor contact: Jonas Gamre, VP Investor Relations, tel.: +47 971 18 292
Media contact: Geir Bjørlo, Corporate Communications, tel.: +47 915 40 000

About Det norske:
Det norske is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf (NCS). We are building one of Europe’s largest independent E&P companies.

Det norske is the operator of the producing Alvheim field and for the Ivar Aasen field development. In addition, the company is partner in the Johan Sverdrup field. Det norske has an active exploration programme on the Norwegian shelf and an ambitious strategy for growth.

Det norske’s headquarters are located in Trondheim, with branch offices in Stavanger, Oslo and Harstad. Det norske is listed on Oslo Børs with ticker ‘DETNOR’. More about Det norske at www.detnor.no/en/.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.