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Det norske oljeselskap ASA: Annual Report 2015

Trondheim, 18 March 2016

Det norske oljeselskap ASA announces the publication of the annual
report for company activities in 2015. The theme for the report is 10
years with Det norske.

The highlights for 2015 are the approval of plan for development and
operations (PDO) for Johan Sverdrup by the Ministry of Petroleum and
Energy in August, the steel jacket for Ivar Aasen was installed at
field during June and Det norske acquired the Norwegian subsidiaries
of Svenska Petroleum and Premier Oil during the last quarter of the

The company has established a robust and diversified capital structure
with USD 1.3 billion in undrawn credit, which is sufficient to fund
the current work program until first oil at Johan Sverdrup.

The company is benefitting from a strong base with high margin, low
cost production from the Alvheim area and is part of attractive
development projects that secure production growth for many years to
come. The company is however taking steps to strengthen its business
to utilise the current macro environment to strengthen its long-term
competitiveness. Improvement measures have been implemented to reduce
expenditures across all disciplines.

Find the PDF version of the 2015 Annual Report attached.

The report is also available at the company's web site:

Investor contact: Jonas Gamre, VP Investor Relations, tel.: 47 971 18

Media contact: Rolf Jarle Brøske, SVP Communications, tel.: 47 911 12

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

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

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

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


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