Aker BP strikes oil in the NOAKA area, offshore Norway

7/12/2019

LYSAKER -- 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.

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.

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