Aker BP

Aker BP and DNO expand collaboration and accelerate development of Kjøttkake

Aker BP ASA and DNO ASA have entered into agreements that strengthen Aker BP's

position in the Alvheim area and accelerate the development of the Kjøttkake

discovery. The agreements include an exchange of ownership interests across

several licences and the transfer of operatorship for Kjøttkake to Aker BP in

the development phase.

Under the agreements, Aker BP will assume operatorship of the Kjøttkake

discovery in the development phase, enabling the company to leverage its fast

-track development capabilities for efficient project execution. As part of the

agreements, Aker BP will divest its interest in the Verdande field to DNO. In

return, Aker BP will increase its stake in the producing Vilje field, expand its

position in the Kveikje discovery, and acquire additional interests in several

exploration licences.

The agreements enhance Aker BP's footprint in the Alvheim and Kjøttkake areas

and support integrated development opportunities, including potential tie-back

solutions to existing infrastructure. This reflects both companies' shared

commitment to maximising resource recovery and creating value through

collaboration.

Aker BP participating interests:

Licence Name Pre-deal Acquired/sold Post-deal

PL1182S Kjøttkake 45% 0% 45% and operator

PL293B, PL293CS Kveikje 10% 9% 19%

Verdande Unit Verdande 3.5% -3.5% 0%

PL036D Vilje 46.904% 28.853% 75.757%

PL1175, PL1175B 50% 10% 60%

PL1171 50% 16% 66%

PL1204, PL1204 BS 0% 20% 20%

The agreements are subject to customary regulatory approvals and partner

consents.

Contacts:

Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217

About Aker BP:

Aker BP is a leading exploration and production company focused on oil and gas

operations on the Norwegian continental shelf. The company operates the Alvheim,

Edvard Grieg, Ivar Aasen, Skarv, Ula, and Valhall field centres and is a key

partner in the Johan Sverdrup field. Headquartered in Fornebu, Norway, Aker BP

is listed on the Oslo Børs under the ticker AKRBP. For more information, visit

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