Aker BP

Capital/Financing Update • Dec 23, 2016

DETNOR02: Distribution Put Option Expired

DETNOR02: Distribution Put Option Expired

Reference is made to the stock exchange notice from Aker BP ASA ("Aker BP")

dated 7 December 2016 relating to a Distribution Put Option in Det norske

oljeselskap ASA 13/20 FRN (ISIN NO 001068414.5).

The deadline to exercise the Distribution Put Option at 107% of par plus accrued

interest was set to 22 December 2016, and Aker BP has now obtained the results

from the Distribution Put Option.

Bondholders representing NOK 3.5 million nominal worth of DETNOR02 have

exercised their put options. Aker BP will not cancel the bonds, and the gross

nominal amount of DETNOR02 will thus remain NOK 1.900 million.

Contacts:

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

Media contact: Jan Erik Geirmo, Press spokesman, tel.: +47 934 82 596

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, Skarv, Valhall, Hod, Ula and Tambar, in addition to the

Ivar Aasen field development. 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.