Aker BP

Regulatory Filings • Oct 5, 2018

AKERBP: Third quarter 2018 production

AKERBP: Third quarter 2018 production

Aker BP ASA produced 150.6 thousand barrels of oil equivalents per day (mboed)

in the third quarter 2018.

Production in the third quarter was impacted by planned maintenance activities

at Skarv and Alvheim, as well as temporarily higher gas injection and hence

reduced exports from Skarv.

As part of the Valhall IP drilling campaign, the company has tested a new well

stimulation method which is expected to significantly reduce the time and cost

of new wells. The testing has taken more time than anticipated. As a result,

some of the production growth that was expected from Valhall in the third

quarter has been moved to coming quarters.

The production per field is specified below.

Field  Interest Operator Q3-18 Q2-18 Q1-18

Alvheim  65% Aker BP 38.9 40.1 40.5

Bøyla  65% Aker BP 3.1 3.3 3.2

Gina Krog  3.3% Equinor 1.3 1.8 1.5

Hod  90% Aker BP 0.9 1.1 1.0

Ivar Aasen  34.78% Aker BP 22.7 23.7 24.4

Skarv  23.40% Aker BP 23.3 27.6 27.1

Tambar  55% Aker BP 4.0 5.4 1.6

Ula  80% Aker BP 6.5 5.4 6.5

Valhall  90% Aker BP 35.1 32.7 33.5

Vilje  46.90% Aker BP 3.7 4.1 5.1

Volund  65% Aker BP 11.0 12.6 14.1

Other  Misc. Misc. 0.1 0.1 0.1

Total  150.6 157.8 158.6

Production volumes are subject to final re-allocation. Numbers may not add due

to rounding.

Contact:

Kjetil Bakken, VP Investor Relations, tel.: +47 91 889 889

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.