Aker BP

Earnings Release • Nov 3, 2014

Successful appraisal of the Garantiana discovery

Successful appraisal of the Garantiana discovery

Det norske oljeselskap ASA, as partner in PL554, announces that drilling

and testing of appraisal well 34/6-3 S on the "Garantiana" discovery and

the wildcat sidetrack well 34/6-3 A have been completed. The updated

resource range in PL 554 is estimated at 40 - 90 mmboe. Extensive data

analysis and studies have been launched to confirm the resource basis

and to evaluate possible development scenarios.

The 34/6-3 S well is located two kilometres southwest of the discovery

well 34/6-2 S which was completed in 2012. The primary objective of 34/6

-3 S was to appraise the oil discovery in Lower Jurassic reservoir rocks

(Cook formation). The secondary objective was to explore the Lower

Jurassic Statfjord formation updip of the well 34/6-2 S.

The appraisal well 34/6-3 S encountered a gross oil column of 120 metres

in the Cook formation with good reservoir quality. The Statfjord

formation was water bearing. The oil/water contact was not established.

Extensive data acquisition and sampling were carried out, including

comprehensive formation testing of the Cook formation. The stable

production rate measured 940 standard cubic metres (Sm3) of oil per day

through a 24/64 inch choke size, with a maximum rate of 1,100 Sm3 of oil

per day through a 28/64 inch nozzle opening.

The test showed good flow properties including stable flowing pressure

and low drawdown, and consistent pressure build-ups. The well produced

oil with a low gas/oil ratio.

The separate sidetrack exploration well 34/6-3 A on the "Akkar" prospect

was subsequently drilled. The well encountered a 12 meter net oil column

in the Cook formation and was terminated in the Statfjord formation

which was water bearing. Sampling and data acquisition was carried out.

The sidetrack well was not formation tested. Estimated recoverable

resources proved by the well is about 3 mmboe.

Both wells are permanently plugged and abandoned.

Det norske holds 10% working interest in PL554. The operator is Total

E&P Norge AS with 40% and the other partners are Spike Exploration with

30% and Svenska Petroleum with 20%.

Contacts:

Investor Relations Manager, Jonas Gamre

Tel.: +47 971 18 292, e-mail: jonas.gamre@detnor.no

Press Contact, Kurt Michelsen

Tel.: +47 41 63 52 44, e-mail: kurt.michelsen@detnor.no

About Det norske:

Det norske is a fully-fledged E&P company with exploration, development

and production activities on the Norwegian Continental Shelf (NCS). We

are building one of Europe's largest independent E&P companies.

Det norske is the operator of the producing Alvheim field and for the

Ivar Aasen field development. In addition, the company is partner in the

Johan Sverdrup field. Det norske has an active exploration programme on

the Norwegian shelf and an ambitious strategy for growth.

Det norske's headquarters are located in Trondheim, with branch offices

in Stavanger, Oslo and Harstad. Det norske is listed on Oslo Børs with

ticker 'DETNOR'. More about Det norske at www.detnor.no/en/.

This information is subject to disclosure requirements pursuant to

section 5-12 of the Norwegian Securities Trading Act.