Aker BP

Regulatory Filings • Dec 8, 2020

Approved development plan for the Hod field

Approved development plan for the Hod field

The Norwegian Ministry of Petroleum and Energy has today approved the Plan for

development and operation (PDO) for Hod in the North Sea.

The approved PDO for the HOD development was personally handed over by the

Minister of Petroleum and Energy Tina Bru, to the robot dog Spot, to catch up

from their last meeting; In June, it was Spot who, on behalf of operator Aker BP

and partner Pandion Energy, submitted the Plan for development and operation to

the Minister (link (https://akerbp.com/overleverer-plan-for-utbygging-og-drift

-for-hod/)).

Hod is one of the first projects to be realized during the temporary changes in

Norwegian petroleum taxation that the Storting approved in June.

The Hod development provides activity and jobs for suppliers located in all

parts of Norway; Aker BP has already awarded 100 contracts above one million NOK

to suppliers in 23 municipalities in nine counties around the country.

The Hod field will be developed in collaboration with Aker BP's alliance

partners with a normally unmanned installation remotely controlled from the

Valhall field centre, with very low CO2 emissions due to power from shore.

Contacts:

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

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

About Aker BP:

Aker BP is a fully-fledged 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.