diff --git a/CMakeLists.txt b/CMakeLists.txt
index 53bc42e5195..57274a36e61 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -9,7 +9,7 @@ endif()
 
 set( ERT_VERSION_MAJOR 2 )   # Remember to update release notes whenever
 set( ERT_VERSION_MINOR 2 )   # you change the ERT_VERSION_MINOR or MAJOR
-set( ERT_VERSION_MICRO 2 ) # with "new in Ert Version X.X.X"!
+set( ERT_VERSION_MICRO 3 ) # with "new in Ert Version X.X.X"!
 
 # If the micro version is not integer, that should be interpreted as a
 # development version leading towards version MAJOR.MINOR.0