Aker BP

Earnings Release • Jan 15, 2018

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.