Aker BP

M&A Activity • Dec 3, 2018

Acquisition of licence portfolio from Total completed

Acquisition of licence portfolio from Total completed

Reference is made to Aker BP's stock exchange notice dated 31 July 2018

regarding the company's agreement to acquire a portfolio of 11 licences on the

Norwegian continental shelf from Total E&P Norge for a cash consideration of USD

205 million. All closing conditions have been fulfilled, and the closing of the

transaction has now taken place.

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.

This information is subject to disclosure requirements pursuant to section 5-12

of the Norwegian Securities Trading Act.