Addendum to the Integration Agreement between Norsk Hydro ASA (“Hydro”) and Statoil ASA (“Statoil”)

Exhibit 10.2

Addendum

to the

Integration Agreement

between

Norsk Hydro ASA (“Hydro”)

and

Statoil ASA (“Statoil”)

This addendum to the Integration Agreement (the “Integration Agreement”) concerning the merger of Hydro’s petroleum activities with Statoil (the “Merger”) is entered into between Hydro and Statoil.

1. INFORMATION AND VERIFICATION

Hydro and Statoil has, in accordance with clause 3 of the Integration Agreement, conducted a due diligence review to verify the Information Assumption.

The due diligence review is governed by a separate agreement dated 25 January 2007.

The due diligence review was completed on 27 January in Stavanger.

2. CHANGE OF FINANCIAL CONDITIONS FOR THE MERGER

Clause 2.4, third paragraph, sub-clause (i) of the Integration Agreement shall be amended as follows:

(i) Hydro’s Petroleum Activities shall be allocated a Net Interest-bearing Debt (as defined in Annex 2) of NOK 1 000 000 000 (one billion) as per 1 January 2007.

Clause 2.4, third paragraph, sub-clauses (ii) - (v), shall remain unchanged.

3. OTHER CONDITIONS FOR THE MERGER

The Parties confirm by the entering into of this addendum to the Integration Agreement that the due diligence review which were to be completed in accordance with clause 3 of the Integration Agreement, has been concluded.

Except for what follows from the above clauses, all other conditions in the Integration Agreement regarding the Merger shall remain unchanged.

Oslo, 30 January 2006 [sic]
/s/ Xxxxx Xxxx		/s/ Xxxxxx Xxxxxx
For Statoil ASA		For Norsk Hydro ASA
Xxxxx Xxxx		Xxxxxx Xxxxxx
CEO		CEO