Aker BP

Business and Financial Review • Oct 5, 2018

AKERBP: Third quarter 2018 production

Aker BP ASA produced 150.6 thousand barrels of oil equivalents per day (mboed) in the third quarter 2018.

Production in the third quarter was impacted by planned maintenance activities at Skarv and Alvheim, as well as temporarily higher gas injection and hence reduced exports from Skarv.

As part of the Valhall IP drilling campaign, the company has tested a new well stimulation method which is expected to significantly reduce the time and cost of new wells. The testing has taken more time than anticipated. As a result, some of the production growth that was expected from Valhall in the third quarter has been moved to coming quarters.

The production per field is specified below.

Field	Interest	Operator	Q3-18	Q2-18	Q1-18
Alvheim	65%	Aker BP	38.9	40.1	40.5
Bøyla	65%	Aker BP	3.1	3.3	3.2
Gina Krog	3.3%	Equinor	1.3	1.8	1.5
Hod	90%	Aker BP	0.9	1.1	1.0
Ivar Aasen	34.78%	Aker BP	22.7	23.7	24.4
Skarv	23.40%	Aker BP	23.3	27.6	27.1
Tambar	55%	Aker BP	4.0	5.4	1.6
Ula	80%	Aker BP	6.5	5.4	6.5
Valhall	90%	Aker BP	35.1	32.7	33.5
Vilje	46.90%	Aker BP	3.7	4.1	5.1
Volund	65%	Aker BP	11.0	12.6	14.1
Other	Misc.	Misc.	0.1	0.1	0.1
Total			150.6	157.8	158.6

Production volumes are subject to final re-allocation. Numbers may not add due to rounding.

Contact:

Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889

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.