Aker BP — Capital/Financing Update 2011

Jan 13, 2011

NOK 600 million unsecured bond issue completed

NOK 600 million unsecured bond issue completed

Reference is made to the announcement Monday 10th  January 2011

regarding a  contemplated offering of a NOK 400-600 million senior

unsecured bond.

The Company is pleased to announce that the bond offering has been

completed, with a placement of NOK 600 million. The issue was

oversubscribed. The bond will be listed on the Oslo Stock Exchange.

The bond has a term of 5 years and carries an interest rate of NIBOR +

6,75%.

Net proceeds from the issue will be used for general corporate purposes.

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

Markets v/ Argo Securities acted as joint lead managers of the bond

issue.

The information in this announcement is subject to the disclosure

requirements of the Norwegian Securities Trading Act section 5-12

Contacts:

Teitur Poulsen, CFO, tel.:+47 950 82892

Knut Evensen, VP Investor Relations, tel.: +47 950 77622