Aker BP

Share Issue/Capital Change • Nov 21, 2017

AKER BP: Board resolution to increase the share capital

AKER BP: Board resolution to increase the share capital

Reference is made to Aker BP ASA's ("Aker BP" or the "Company") stock exchange

announcement on 30 October 2017 regarding the contemplated private placement,

and announcement on 21 November 2017 regarding the extraordinary general meeting

held in Aker BP.

On 21 November 2017, pursuant to the authorisation, the board of directors

resolved to increase Aker BP's share capital with NOK 22,376,438 by issuing

22,376,438 new shares, each with a nominal value of NOK 1.

In accordance with the private placement announcement, the shares will be

subscribed by (i) Nordea Bank AB (publ) ("Nordea"), Norwegian branch, on behalf

of the investors subscribed in the private placement, (ii) Aker Capital AS

("Aker") and (iii) BP Global Investments Limited ("BP"), with the following

share allocation: Nordea Bank will subscribe 6,713,491 shares, Aker will

subscribe 8,950,799 shares and BP will subscribe 6,712,148 shares.

The purchase price for the shares will be paid on 22 November 2017.

The new shares are intended to be issued on 22 November 2017 following

registration in the Norwegian Register of Business Enterprises.

After the issuance of the new shares the share capital of the Company will be

NOK 360,113,509 divided into 360,113,509 shares, each with a nominal value of

NOK 1. The Company's articles of association will be amended correspondingly.

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Contacts:

Investor contact: Jonas Gamre, VP Investor Relations, tel.: +47 971 18 292

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

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.