diff --git a/GrpcInterface/Python/setup.py.cmake b/GrpcInterface/Python/setup.py.cmake
index bd5f49adf5..8931ca8e89 100644
--- a/GrpcInterface/Python/setup.py.cmake
+++ b/GrpcInterface/Python/setup.py.cmake
@@ -6,7 +6,7 @@ with open('README.md') as f:
 with open('LICENSE') as f:
     license = f.read()
 
-RIPS_DIST_VERSION = '3'
+RIPS_DIST_VERSION = '1'
 	
 setup(
     name='rips',
diff --git a/ResInsightVersion.cmake b/ResInsightVersion.cmake
index 733f802169..43577b55be 100644
--- a/ResInsightVersion.cmake
+++ b/ResInsightVersion.cmake
@@ -1,7 +1,7 @@
 
 set(RESINSIGHT_MAJOR_VERSION 2024)
 set(RESINSIGHT_MINOR_VERSION 12)
-set(RESINSIGHT_PATCH_VERSION 1)
+set(RESINSIGHT_PATCH_VERSION 2)
 
 # Opional text with no restrictions
 set(RESINSIGHT_VERSION_TEXT "-dev")
@@ -11,7 +11,7 @@ set(RESINSIGHT_VERSION_TEXT "-dev")
 # Must be unique and increasing within one combination of major/minor/patch version 
 # The uniqueness of this text is independent of RESINSIGHT_VERSION_TEXT 
 # Format of text must be ".xx"
-set(RESINSIGHT_DEV_VERSION ".02")
+set(RESINSIGHT_DEV_VERSION ".01")
 
 # https://github.com/CRAVA/crava/tree/master/libs/nrlib
 set(NRLIB_GITHUB_SHA "ba35d4359882f1c6f5e9dc30eb95fe52af50fd6f")