Aker BP — Capital/Financing Update 2011

Jan 13, 2011

DETNORSKE

Trondheim, 2011-01-13

Buy back of convertible bonds

Det norske oljeselskap ASA has bought back NOK 136,85 million of the outstanding convertible bond issue with ticker AKX01 and ISIN NO0010346117 in connection with the NOK 600 million bond issue completed on 13 January 2011.

Total outstanding amount in AKX01 is now NOK 320,65 million after the buy back.

Contacts:

Teitur Poulsen, CFO, tel.: +47 950 82892
Knut Evensen, VP Investor Relations, tel.: +47 950 77622

About Det norske:

Det norske is the second-largest operating company on the Norwegian Continental Shelf both considering number of operatorships, exploration- and drilling activity. The aggressive exploration program is the largest an independent Norwegian company has ever conducted on the NCS. Det norske runs its activities in a safe and responsible manner in close cooperation with the authorities. Det norske will in 2011 participate in over 10 drilling operations as partner or as operator.

Det norske currently employs a staff of around 200. The company's registered office is located in Trondheim. The company also has offices in Oslo, Harstad, and Stavanger. Det norske is listed on the Oslo Stock Exchange (DETNOR).

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