Aker BP

Aker BP awarded 27 licenses in APA 2023

The Norwegian authorities are offering Aker BP ownership interest in 27

exploration licenses on the Norwegian continental shelf in the APA 2023

licensing round. For 17 of the licenses Aker BP is also granted operatorship.

The award consolidates our position as the most active independent exploration

company on the NCS.

"We are very pleased with the award that was announced today. It reflects our

comprehensive application and gives us a foundation for maintaining our

ambitious exploration strategy", says Per Øyvind Seljebotn, SVP Exploration and

Reservoir Development in Aker BP.

Aker BP is offered exploration acreage in all areas of the Norwegian continental

shelf, the North Sea, the Norwegian Sea and the Barents Sea.

"Our strategy is to have a portfolio of acreage that provides a good balance

between exploration wells close to existing infrastructure, and wells that can

lay the foundation for independent developments if we make discoveries. For some

of the exploration prospects, we are particularly targeting gas. It is more

important than ever that Norway produce gas to secure the energy supply to

Europe", says Seljebotn.

APA - Awards in Predefined Areas, is the annual licensing round that includes

mature areas of the Norwegian continental shelf. These are areas with known

geology and a relatively well-developed infrastructure with production

facilities and pipelines.

The award in TFO 2023 was announced by Minister of Energy Terje Aasland at the

Oil and Energy Policy Seminar in Sandefjord today. 24 companies were offered

ownership interest in a total of 62 licenses.

Contacts:

Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217

Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

About Aker BP:

Aker BP is a company engaged in exploration, field development and production of

oil and gas on the Norwegian continental shelf. The company operates the field

centres Alvheim, Edvard Grieg, Ivar Aasen, Skarv, Ula and Valhall, and is a

partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu,

Norway, and is listed on Oslo Børs under the ticker AKRBP. More about Aker BP at

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