This is not an official translation. In case of discrepancy between the Norwegian original text and the English language translation, the Norwegian text shall prevail.

(Revised December 16th. 2011)

1. NAME OF THE COMPANY

The Company’s name is Det norske oljeselskap ASA. The company is a public limited
company.

2. REGISTERED ADDRESS

The company’s registered address, where principle parts of the company’s administrative and
operational activities take place, is in the municipality of Trondheim.

3. COMPANY OBJECTIVE

The company´s objective is to carry out exploration for, and recovery of, petroleum and
activities related thereto, and, by subscribing for shares or by other means, to participate in
corresponding businesses or other business, alone or in cooperation with other enterprises and
interests.

4. THE COMPANY’S SHARE CAPITAL

The company’s share capital is NOK 140 707 363 fully-paid up and divided between
140 707 363 shares, each with a nominal value of NOK 1. The company’s shares shall be
registered in the Norwegian Central Securities Depository.

5. THE BOARD OF DIRECTORS

The company’s board of directors shall consist of between five and ten members which are to be elected for a period of up to two years.

6. SIGNATURE

The chair of the board of directors and one board member jointly are authorized to sign on
behalf of the company. The board of directors can grant powers of procuration.

7. GENERAL MEETING

The annual general meeting shall be held each year within a period of 6 months from the end of
the financial year. During the period of notice of the general meeting, the documents shall be
available at the company’s office for the shareholders’ inspection.

The right to attend and vote at the general meeting can only be exercised when the acquisition
is introduced in the shareholder register no later than the fifth business day prior to the general
meeting (registration date).

When documents pertaining to business to be dealt with by the general meeting are made
available to shareholders on the Company website, the requirement of the act for the
documents to be sent to the shareholders shall not apply. This also applies to documents that
by law shall be included in or attached to the notice of the annual general meeting.
Nevertheless, a shareholder may request to have documents sent to him that pertain to
business to be dealt with by the general meeting.

The board of directors may decide that it shall be possible for shareholders to cast their votes in
writing, including by means of electronic communication, in a given period prior to the general
meeting. Satisfactory methods shall be used in order to authenticate the sender.

8. NOMINATION COMMITTEE

The company shall have a nomination committee consisting of 3 members elected by the
annual general meeting. The majority of the members of the nomination committee shall be
independent of the board and the general management.

The nomination committee shall recommend candidates to the board and the nomination
committee, and remuneration of the board and members of the nomination committee. The
committee´s recommendations shall be well-grounded.

Members of the nomination committee are elected for a term of two years at a time.