Aker strengthens position off mid-Norway

Aker Exploration is acquiring a further 20% of Norwegian Sea license PL321 from Talisman Energy, lifting its share to 35%.

Offshore staff

OSLO, Norway --Aker Exploration is acquiring a further 20% of Norwegian Sea license PL321 from Talisman Energy, lifting its share to 35%.

As part of this arrangement, Aker will provide a high-spec rig – already contracted from Aker Drilling – for future drilling on the license. It will also pay Talisman's share of any drilling expense.

The license covers three blocks west of Froya, in between the Njord and Ormen Lange fields. Last year the partners acquired a 3D seismic survey, and plan further processing and interpretation of the data prior to any decision to drill.

Aker Exploration is pre-qualified as a licensee on the Norwegian shelf, and has also submitted an application for pre-qualification as an operator. Its strategy is to focus on the northern Norwegian North Sea, the Norwegian Sea, and the Barents Sea.

06/19/2007

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