Aker BP

Earnings Release • Jan 12, 2017

Oslo, 12 January

Fourth quarter 2016 production

Aker BP ASA («AKERBP») produced 126.5 thousand barrels of oil equivalents per day («mboepd») in the fourth quarter 2016.

Production per field for Q4 2016 was (previous quarter in brackets):

Alvheim (incl. Boa), 65.00 % and operator:	53.7 mboepd (41.0 mboepd)
Bøyla, 65.00 % and operator:	6.5 mboepd (6.2 mboepd)
Hod, 37.50 % and operator:	0.6 mboepd (0.6 mboepd)
Ivar Aasen, 34.78 % and operator:	0.8 mboepd (n/a)
Skarv, 23.40% and operator:	30.0 mboepd (23.9 mboepd)
Tambar / Tambar East, 55.00 / 46.20 % and operator:	2.1 mboepd (2.4 mboepd)
Ula, 80.00 % and operator:	5.1 mboepd (7.0 mboepd)
Valhall, 35.95 % and operator:	17.5 mboepd (17.0 mboepd)
Vilje, 46.90 % and operator:	6.2 mboepd (7.4 mboepd)
Volund, 65.00 % and operator:	3.5 mboepd (4.2 mboepd)
Other	0.6 mboepd (1.0 mboepd)
Total	126.5 mboepd (110.8 mboepd)

Production volumes are subject to final re‐allocation.

Contacts:

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

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.