Det norske oljeselskap ASA: Notification of shareholding

Amoco Norway Oil Company ("Amoco") has on 30 September 2016 subscribed for 70,261,604 new shares in Det norske oljeselskap ASA (the "Company"). Amoco has further on 30 September 2016 transferred the right to have 17,580,767 of said shares issued to Aker Capital AS ("Aker").

BP Global Investments Ltd ("BGIL") has on 30 September 2016 subscribed for 64,856,865 new shares the Company. Amoco has further on 30 September 2016 transferred the right to have 16,228,401 of said shares issued to Aker.

The new shares in the Company are acquired by Amoco and BGIL as part of the completion of the Company's previously announced acquisition of  BP Norge AS ("BP Norge") from Amoco and BGIL. The contribution for the new shares is settled by Amoco and BGIL by set-off of account receivables established in connection with the transfer of the shares in BP Norge to the Company.

Following the registration of the share capital increase in the Norwegian Register of Business Enterprises, Amoco owns 52,680,837 shares in the Company, constituting 15.6% of the issued shares and voting rights in the Company, and BGIL owns 48,628,464 shares in the Company, constituting 14.4% of the issued shares and voting rights in the Company.

Amoco and BGIL are ultimately owned by BP plc ("BP"). Following the registration of the share capital increase in the Norwegian Register of Enterprises, BP ultimately owns 101,309,301 shares in the Company, constituting 30.0% of the issued shares and voting rights in the Company.

Bernard Looney, Chief Executive Upstream in BP, and Kate Thomson, Group Head of Tax in BP, have been elected as new members of the Company's board of directors. 

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 4-3 of the Norwegian Securities Trading Act.