Aker BP

Regulatory Filings • May 23, 2023

New milestone reached at Johan Sverdrup

New milestone reached at Johan Sverdrup

Aker BP (OSE:AKRBP, OTCQX:AKRBF) is pleased to announce that the production

capacity at the Johan Sverdrup field has been successfully tested at 755,000

barrels oil per day.

The development of Johan Sverdrup Phase 2 was completed in December, increasing

the field's total oil production capacity to 720,000 barrels per day. The

partners have an ambition to increase this capacity, and the operator Equinor

has now successfully tested the process facilities to 755,000 barrels per day.

"We are very pleased with the successful completion of the capacity test, which

will enable an increase in Johan Sverdrup's plateau production up towards

755,000 barrels per day, and which once again demonstrates the quality of this

world-class asset. This great achievement has been made possible through

systematic and targeted work by the operator Equinor," says Karl Johnny Hersvik,

CEO in Aker BP.

Aker BP has 31.5733 percent interest in the Johan Sverdrup field.

Contacts:

Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

Martin Seland Simensen, IR Officer, tel.: +47 416 92 087

Kjetil Bakken, Head of IR, tel.: +47 918 89 889

About Aker BP:

Aker BP is a company engaged in exploration, field development and production of

oil and gas on the Norwegian continental shelf. The company operates the field

centres Alvheim, Edvard Grieg, Ivar Aasen, Skarv, Ula and Valhall, and is a

partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu,

Norway, and is listed on Oslo Børs under the ticker AKRBP. More about Aker BP at

www.akerbp.com.