Maersk Oil’s acquisition of Kerr-McGee’s U.K. assets completed on 17 November 2005

Maersk Oil is pleased to announce that the acquisition of the majority of Kerr-McGee’s U.K. assets has been completed today. All conditions to the Sale and Purchase Agreement have been met and payment has been made accordingly.

The new Maersk Oil activities in the U.K. will be operated by the subsidiary Maersk Oil North Sea UK Limited (formerly Kerr-McGee North Sea (U.K.) Limited).

Maersk Oil CEO, Thomas Thune Andersen comments: “We welcome our new colleagues in Aberdeen, at the offshore worksites and elsewhere to Maersk Oil and the A.P. Moller - Maersk Group. It is extremely exciting for us to continue to grow the oil and gas business in the U.K. and the current activities will be a great vehicle for this purpose.”

Mr Terence Jupp, Managing Director of Kerr-McGee North Sea (U.K.) Limited will return to Houston with Kerr-McGee. Mr Michael Engell-Jensen, current Senior Vice President of Maersk Oil in Denmark will assume the position as Managing Director of the Maersk Oil UK corporate entities, and will be based in Aberdeen.

Contact persons: Managing Director Michael Engell-Jensen, Aberdeen, tel: +44 1224 242 281 or Senior Vice President Anders Würtzen, Business Services, Copenhagen, tel: + 45 33 63 38 80.