Aker BP

Report Publication Announcement • Jan 16, 2018

Aker BP awarded 23 licenses in APA 2017

Aker BP has been offered interests in 23 new production licenses in Norway, of which 14 as operator, through the Awards in pre-defined areas (APA2017) licensing round.

• We are very pleased with these awards, which support Aker BP's growth strategy by giving access to attractive exploration opportunities both around existing production hubs as well as in new prospective areas, says Gro G. Haatvedt, Senior Vice President Exploration in Aker BP.

• We would also like to emphasize that access to new exploration acreage is vital in order to maximize the long-term value creation from the petroleum activity on the Norwegian Continental Shelf, says Haatvedt.

Of the 23 production licenses awarded to Aker BP, 15 are located in the North Sea (11 as operator), 3 in the Norwegian Sea (2 as operator) and 5 in the Barents Sea (1 as operator).

The APA 2017 awards were announced by the Ministry of Petroleum and Energy on Tuesday 16 January 2018. In total, 75 licenses were offered to a total of 34 companies. For more details on the awards, please see the announcement from the Ministry of Petroleum and Energy at http://oed.dep.no.

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Investor contacts:

Kjetil Bakken, IR Manager, tel.: +47 91 889 889 Jonas Gamre, VP Investor Relations, tel.: +47 971 18 292

Media contact:

Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217 Tore Langballe, VP Communications, tel.: +47 907 77 841

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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.