Aker BP

Major Shareholding Notification • Oct 20, 2016

Aker BP ASA: Primary insider notice and notification of shareholding

Aker BP ASA: Primary insider notice and notification of shareholding

Amoco Norway Oil Company ("Amoco") has on 19 October

2016 agreed to transfer 52,680,837 shares in Aker BP

ASA (the "Company"), constituting 15.6% of the issued

shares and voting rights in the Company, to BP Global

Investments Limited ("BGIL") against a consideration

of USD 15.96 per share. Completion of the share

transfer will take place on 20 October 2016.

Following the share transfer, BGIL will own

101,309,301 shares in the Company, constituting 30.0%

of the issued shares and voting rights in the Company,

and Amoco will not own any shares in the Company.

Both Amoco and BGIL are ultimately owned by BP plc

("BP"). Consequently, following the share transfer BP

will continue to be the ultimate holder of 101,309,301

shares in the Company, constituting 30.0% of the

issued shares and voting rights in the Company.

Bernard Looney, Chief Executive Upstream in BP, and

Kate Thomson, Group Head of Tax in BP, are members of

the Company's board of directors.

This information is subject to the disclosure

requirements pursuant to sections 4-2 and 4-3 of the

Norwegian Securities Trading Act.