Aker BP: Oil Discovery in the NOAKA Area

TRONDHEIM, Norway, July 12, 2019 /PRNewswire/ -- Aker BP is about to complete the Liatarnet exploration well in licence 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.

Evy Glørstad-Clark, SVP Exploration in Aker BP commented:

"The exploration success at Liatarnet 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 percent interest in licence 442. The partner is LOTOS (9.74 percent).

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

Contacts:
Investor contact:
Kjetil Bakken,
VP Investor Relations,
tel.: +47-918-89-889

Media contact:
Ole-Johan Faret,
Press Spokesman,
tel.: +47-402-24-217

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-bp-asa/r/akerbp--oil-discovery-in-the-noaka-area,c2862102

The following files are available for download:

     
     https://mb.cision.com/Main/1629/2862102/1076542.pdf 
     Release

View original content:http://www.prnewswire.com/news-releases/aker-bp-oil-discovery-in-the-noaka-area-300883960.html

SOURCE Aker BP ASA