Aker BP

Aker BP farms in to new UKCS licence in the greater Alvheim area

Aker BP UK, a newly established subsidiary of Aker BP in Norway, has entered

into an agreement with Eni UK to take over a 50 percent interest in licence

P2511 on the UK Continental Shelf. Eni UK will remain operator. The assignment

transaction is to be formally approved by the UK Oil & Gas Authority.

Licence P2511 is located to the borderline of the Norwegian continental shelf.

Aker BP as operator has several discoveries in the Alvheim area on the Norwegian

side, following a successful exploration campaign in 2019.

The key objective for the newly established partnership between Eni UK and Aker

BP UK is to explore the resource potential across the UK border in the greater

Alvheim area.

Map of the Alvheim

area: Alvheim_area.pdf (https://mb.cision.com/Public/1629/3312238/ad3a399aebccbf3

3.pdf)

Contacts:

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

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

About Aker BP:

Aker BP is an independent E&P company with exploration, development and

production activities on the Norwegian Continental Shelf. Aker BP is the

operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The

company is also a partner in the Johan Sverdrup field. Aker BP is headquartered

at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker

'AKRBP'. More about Aker BP at www.akerbp.com.

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