OKEA ASA — Board/Management Information 2021

Feb 9, 2021

OKEA appoints Svein J. Liknes as new CEO

OKEA appoints Svein J. Liknes as new CEO

Trondheim 09.02.2020

The Board of Directors of OKEA has appointed Svein J. Liknes as new CEO of

OKEA.?The founder and current CEO of OKEA, Erik Haugane (68), has been in

discussion with the Board about his succession for some time as Erik will retire

from the CEO position in OKEA later this year.

Svein J. Liknes (born 1972) will join OKEA on 1 June and comes from Aker BP

where he holds the role as VP Special Projects & Due

Diligence. He previously served in Aker Energy both as acting CEO and Head of

Operations. Liknes also has experience as SVP Operations & Asset Development in

Aker BP where he headed the Skarv Asset since 2016. Mr. Liknes has also held a

similar role for the Alvheim Asset for Aker BP (then Det norske) and has broad

experience with production units, from both projects and operations, in Asia and

Great Britain. Mr. Liknes has background from the Norwegian Armed Forces

and studied Nautical Science at the University of Stavanger and the Western

Norway University of Applied Sciences.

The Chairman of the Board of Directors and CEO of Bangchak Corporation,

Chaiwat Kovavisarach, made the following comments: "With a?growing portfolio of

quality assets, together with an experienced and effective?management team, OKEA

is very well positioned for growth on the NCS. Erik Haugane has led OKEA really

well over the past 6 years and has delivered some great successes in market

conditions which have at times been challenging. Erik will now hand over the

leadership of the Company to?Svein?J. Liknes, who?will bring his extensive

experience into the management team. On behalf of the Board, I would like to

welcome Svein to OKEA and look forward to working closely with him as we

continue to build on the solid platform which Erik has created.?I would also

like to thank Erik for his solid leadership since the Company's foundation

and am pleased that he will continue to be associated with the Company as

adviser to the?Board ",?says Chaiwat?Kovavisarach.

"As founder, investor and existing CEO, I am very pleased that Svein is taking

on this job," says Erik Haugane. "A good foundation and a sound strategy for

growth has been established, and I am confident that Svein together with the

management team will continue the journey and add significant value to the

society and shareholders going forward."

Contact:

Finn Haugan, Board member; +47 90041002

Erik Haugane, CEO; +47 90721655

Trond Omdal, VP Investor Relation; +47 91532578

About OKEA

OKEA ASA is an independent Exploration and Production (E&P) company and operator

on the NCS with a current production of ~16000 boepd. OKEA targets profitable

production growth within the current portfolio combined with an opportunistic

approach to M&A.

OKEA ASA is listed on the Oslo Stock Exchange under the ticker "OKEA". More

information

on www.okea.no (https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2F

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