AKERBP: Discovery at Froskelår

Aker BP is currently drilling exploration well 24/9-14 on the Froskelår Main prospect. The well has encountered oil and gas. Preliminary analysis indicates a gross discovery size within the previously communicated estimate of 45-153 million barrels oil equivalents.

Froskelår Main is located in the Alvheim area and follows the Frosk discovery from last year. The major part of the discovery is in licence 869 on the Norwegian Continental Shelf, while a part may straddle the UK-Norwegian border in the North Sea.

The drilling operation will continue, and a comprehensive data collection program will be performed to determine the size and quality of the discovery. More information will be provided when this work has been completed.

Aker BP is the operator and holds 60 percent interest in licence 869. The partners are Lundin Norway (20 percent) and Vår Energi (20 percent).

Contacts:
Investor contact: Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889
Media contact: Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker ‘AKERBP’. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.