Aker BP

Earnings Release • Jul 5, 2023

Aker BP second quarter 2023 trading update

Aker BP (OSE: AKRBP) (OTCQX: AKRBF; AKRBY) today announces its preliminary production and sales figures for the second quarter 2023.

The company's equity production for the period was 480.7 thousand barrels of oil equivalents per day (mboepd). This represents a new quarterly record for Aker BP, and the strong performance was driven by continued production ramp-up at Johan Sverdrup, as well as high production efficiency in general. Net volume sold in the quarter was 477.4 mboepd.

Volume (mboepd)	Q2-23	Q1-23	Q4-22	Q3-22
Net production	480.7	452.7	432.0	411.7
Overlift/(underlift)	(3.3)	(3.1)	(3.7)	(5.0)
Net volume sold	477.4	449.6	428.3	406.7
Of which liquids	408.9	384.1	362.2	342.2
Of which natural gas	68.5	65.5	66.0	64.5
Realised prices	Q2-23	Q1-23	Q4-22	Q3-22
Liquids (USD/boe)	76.8	78.4	86.6	101.1
Natural gas (USD/boe)	63.9	98.7	150.4	280.9

The company will release its second quarter 2023 report on 13 July 2023 at 07:00 CEST. At 08:30 CEST the same day, the management will present the results on a webcast available on www.akerbp.com/en. The presentation will be followed by an online Q&A session.

Contacts:

Kjetil Bakken, Head of IR, tel.: +47 918 89 889 Martin Seland Simensen, IR Officer, tel.: +47 416 92 087 Carl Christian Bachke, IR Officer, tel.: +47 909 80 848

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 www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and requirements under the EU Market Abuse Regulation.