Aker Drilling Names Fredrik Steenbuch to Post of COO

Fredrik Steenbuch has been appointed Chief Operating Officer of Aker Drilling. Mr. Steenbuch, who has extensive offshore industry experience, particularly in the drilling market, will play a key role in marketing Aker Drilling's two rigs and in the development of the company.

Aker Drilling's two Aker H-6e drilling platforms, now under construction at Aker Kværner, are scheduled for delivery in February and October 2008, respectively. The rigs will be among the largest and most advanced in the market. Their features make them particularly well suited to efficient drilling at great water depths, under demanding weather conditions, and in environmentally sensitive areas.

Market demand for such rigs is high; oil companies are currently signing rig contracts two years ahead of drilling operations start-up.

"Strengthening our ability to handle detailed requests from potential customers is a natural response to today's high levels of market activity. We are very pleased to have Fredrik Steenbuch on our team," says Martinus Brandal, acting Chief Executive Officer of Aker Drilling.

Fredrik Steenbuch's professional experience includes ship brokering and marketing of drilling rigs for Smedvig, Wilrig, and Northern