Aker BP

Earnings Release • Jan 15, 2018

AKERBP: Fourth quarter 2017 production

AKERBP: Fourth quarter 2017 production

Aker BP ASA produced 135.6 thousand barrels of oil equivalents per day

(«mboepd») in the fourth quarter 2017. For the year 2017, the company's

production averaged 138.8 mboepd, in line with the latest guidance. The

production per field is specified below.

Field  Interest Operator Q4-17 Q3-17 2017

Alvheim  65.00% Aker BP 42.3 47.3 53.8

Bøyla  65.00% Aker BP 3.7 4.3 4.4

Gina Krog  3.30% Statoil 1.7 1.5 0.8

Hod  37.50% Aker BP 0.5 0.5 0.5

Ivar Aasen  34.78% Aker BP 23.5 16.6 18.1

Skarv  23.40% Aker BP 21.4 24.5 26.7

Tambar  55.00% Aker BP 0.9 2.1 1.9

Ula  80.00% Aker BP 6.0 6.5 6.5

Valhall  35.95% Aker BP 14.4 11.1 13.4

Vilje  46.90% Aker BP 4.8 5.1 5.3

Volund  65.00% Aker BP 16.3 12.3 7.3

Other  Misc. Misc. 0.1 0.2 0.1

Total  135.6 131.9 138.8

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

to rounding.

Aker BP's interest in the Valhall and Hod fields has increased to 90%. This will

be reflected in the company's production reporting as from 2018.

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Investor contacts:

Jonas Gamre, VP Investor Relations, tel.: +47 971 18 292

Kjetil Bakken, IR Manager, tel.: +47 91 889 889

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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.