Exercises option

This interest was transferred to the recently created state oil company, Statoil. Following this transaction, interests in the Petronord group broke down as follows:

• Elf Norge A/S (operator)          27.61 %
• A/S Norsk Hydro                         32.87 %
• Total Marine Norsk A/S           13.81 %
• Aquitaine Norge A/S                 13.81 %
• Statoil                                                 5.00 %