Aker — Board/Management Information 2018

Feb 23, 2018

Aker ASA: Jan Arve Haugan appointed as Chief Executive Officer of Aker Energy

Aker ASA: Jan Arve Haugan appointed as Chief Executive Officer of Aker Energy

Jan Arve Haugan has been appointed as Chief Executive Officer of the newly

established oil company Aker Energy, effective 1 March 2018. Mr. Haugan is

currently the President & CEO of Kværner ASA ("Kvaerner")

"We are pleased that Jan Arve Haugan has accepted the management responsibility

of Aker Energy. Jan Arve has extensive experience from international top

management and the oil and gas industry. He has also been responsible for

implementing one of Norway's largest industrial projects abroad," said President

& CEO of Aker, Øyvind Eriksen.

Aker Energy AS is a 50-50 joint venture between Aker ASA and TRG AS. The company

has entered into an agreement with a subsidiary of Hess Corporation to acquire

its interests in Ghana, consisting of a 50 per cent participating interest in

the Deepwater Tano Cape Three Points block. Aker Energy is currently progressing

a commercially robust development solution with a fast-track first-phase

targeting approximately 400 million barrels. The Plan for Development and

Operation will be submitted in 2018 with anticipated first oil in 2021.

"This is an oil field the size of Johan Castberg in the Barents Sea. With Jan

Arve as part of the team, we will be able to keep up the pace. Focus is on

safety, quality in all stages of the development, cost-effective implementation

and the lowest possible production cost per barrel of oil," said Eriksen.

Jan Arve Haugan has led Kvaerner since its demerger from Aker Solutions and

stock listing in the summer of 2011, and has delivered strong results in a

challenging market. He has extensive experience from a variety of top management

positions.

Mr. Haugan joined Norwegian Hydro as Chief engineer in 1991. He has held several

management positions in Hydro's oil and gas projects and operations, and more

recently in the aluminium business. From 2007 to 2009 he was Director of

Technology and Global Smelter Operations. In 2009, he became CEO of Qatar

Aluminium Ltd ("Qatalum"), a 50-50 joint venture between Qatar Petroleum and

Hydro Aluminium, and one of the largest primary aluminium plants ever built in

one phase. Mr. Haugan was Hydro's project owner and technology provider for

Qatalum in Hydro, before joining Qatalum as CEO. Jan Arve Haugan holds a M.Sc.

in construction management from the University of Colorado at Boulder, USA.

END

For further information, please contact:

Investors:

Per Kristian Reppe, Investment Manager & Head of Investor Relations

Phone: +47 24 13 00 67

Mobile: +47 90 03 32 03

Media:

Atle Kigen, Head of Communications

Phone: +47 24 13 00 08

Mobile: +47 907 84 878

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.