Aker BP

Regulatory Filings • Jan 15, 2019

Aker BP awarded 21 licenses in APA 2018

Aker BP has been offered interests in 21 new production licenses in Norway, of which 11 as operator, through the Awards in pre-defined areas (APA2018) licensing round.

• We are excited about the opportunities in the licenses that Aker BP has been awarded today, says Evy Glørstad-Clark, Senior Vice President Exploration in Aker BP.

• These awards increase Aker BP's footprint in areas close to our operated hubs. We have also identified new potential growth opportunities in some of the licenses awarded today. Combined with creativity, a highly skilled exploration team and the adoption of new technologies, these awards will enable us to explore new potential core areas for Aker BP, says Glørstad-Clark.

Of the 21 production licenses awarded to Aker BP, 12 are located in the North Sea (5 as operator), 3 in the Norwegian Sea (2 as operator) and 6 in the Barents Sea (4 as operator).

The APA 2018 awards were announced by the Ministry of Petroleum and Energy on Tuesday 15 January 2019. In total, 83 licenses were offered to a total of 33 companies. For more details on the awards, please see the announcement from the Ministry of Petroleum and Energy at http://oed.dep.no.

Contacts:

Investor contact: Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889 Media contact: 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 'AKERBP'. 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.