Aker BP — Capital/Financing Update 2011

Jan 10, 2011

Unsecured bond

Unsecured bond

Det norske oljeselskap ASA is contemplating a senior unsecured bond

issue with maturity in January 2016 directed towards Norwegian and

international investors. The net proceeds from the issue will be used

for general corporate purposes. The contemplated bond issue will have

minimum issue amount of NOK 400 million and a borrowing limit of NOK 600

million.

DnB NOR Markets, First Securities, Pareto Securities and Sparebank 1

Markets v/ Argo Securities are mandated as joint lead arrangers of the

contemplated bond issue.

NOT FOR DISTRIBUTION IN THE UNITED STATES

The information in this announcement is subject to the disclosure

requirements of the Norwegian Securities Trading Act section 5-12

Contacts:

Knut Evensen, VP Investor Relations, tel.: +47 950 77 622