Aker BP — M&A Activity 2018

Dec 28, 2018

Acquisition of King Lear from Equinor completed

Acquisition of King Lear from Equinor completed

Reference is made to Aker BP's stock exchange notice dated 15 October 2018

regarding the company's agreement to acquire 77.8 percent and operatorship of

the King Lear discovery on the Norwegian continental shelf from Equinor for a

cash consideration of USD 250 million. All closing conditions have been

fulfilled, and the closing of the transaction has now taken place.

Contacts:

Investor contact: Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889

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.