Aker BP Strikes Oil in the NOAKA Area, Offshore Norway

Graphic for News Item: Aker BP Strikes Oil in the NOAKA Area, Offshore Norway

Aker BP is about to complete the Liatårnet exploration well in license 442 in the NOAKA area. The well has proved oil with a gross resource estimate of 80-200 MMboe. Further data acquisition and analysis will be undertaken to determine the drainage strategy and recovery factor for the discovery.

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Evy Glørstad-Clark, senior V.P. of exploration at Aker BP commented: “The exploration success at Liatårnet is an encouraging result of a long-term strategy to unlock the exploration potential in the NOAKA area and provide the basis for an area development. The discovery represents a significant addition to the NOAKA resource base.”

Aker BP is the operator and holds 90.26% interest in license 442. The partner is LOTOS (9.74%).

A more detailed technical description of the well results will be released by the Norwegian Petroleum Directorate when the operation has been completed.Source: www.worldoil.com

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