Aker BP

Capital/Financing Update • Jul 8, 2014

Det norske signs USD 3 billion reserve-based lending facility

Det norske signs USD 3 billion reserve-based lending facility

Reference is made to the stock exchange notice from 2 June 2014,

regarding a long-term financing plan in connection with the acquisition

of Marathon Oil Norway.

Det norske oljeselskap ASA (DETNOR) has now signed a reserve-based

lending facility (RBL Facility), fully underwritten by BNP Paribas, DNB,

Nordea and SEB. The RBL Facility is a senior secured seven-year USD 3.0

billion facility and includes an additional uncommitted accordion option

of USD 1.0 billion. This long-term facility will replace the USD 2.2

billion acquisition bridge facility upon closing of the Marathon Oil

Norway acquisition and refinance Det norske's current revolving credit

facility.

The RBL Facility will be on improved terms compared to the Company's

current credit facility. The interest will be LIBOR plus a margin of

2.75 percent p.a. plus a utilisation fee of 0.25 percent or 0.5 percent

based on the amount drawn under the facility.

For more information, please contact:

Investor contact: Jonas Gamre, Investor Relations Manager, tel.: +47 971

18 292

About Det norske:

Det norske oljeselskap ASA (DETNOR) is an active exploration company on

the Norwegian Continental Shelf. Det norske's headquarters is in

Trondheim. The company also has offices in Oslo and Harstad. Det norske

is listed on the Oslo Stock Exchange with the ticker "DETNOR". More

about Det norske at www.detnor.no/en/