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Gas and Condensate Find in Frigg Area

Maritime Activity Reports, Inc.

February 6, 2009

StatoilHydro has completed the drilling of an exploration well in the Fulla prospect, north-east of the Frigg field in the North Sea. Gas and condensate were found.

Exploration well 30/11-7 was drilled by the West Alpha semi-submersible drilling unit in production license PL 362/PL035B.

The purpose of the drilling was to prove hydrocarbons in the Brent group, in Middle Jurassic rocks near the abandoned Lille Frigg field.

No hydrocarbons were found in the upper part of the Brent group which was the main target of the exploration well. But hydrocarbons in the form of gas/condensate were discovered in the lower parts of the Brent group.

Tom Dreyer, vice president for infrastructure-led exploration North Sea in Exploration & Production Norway said "We are now considering drilling a sidetrack well to delineate the extent of the find."

The well has proven recoverable volumes in the region of 6-19 million barrels of oil equivalent. The well was drilled to a vertical depth of 4,067 meters below sea level in 111 meters of water. Drilling was terminated in Early Jurassic rocks.

After extensive gathering of data and core samples, the well has been temporarily plugged and abandoned. The licensees in PL362 are: StatoilHydro - operator (50%), Svenska Petroleum Exploration (25%), Det norske oljeselskap (15%) and Dana Petroleum Norway (10%).

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