The Norwegian authorities are offering Aker BP ownership interest in
19 exploration licenses on the Norwegian continental shelf in the APA 2024
licensing round. For 16of the licenses Aker BP is also granted operatorship. The
award consolidates our position as the most active independent exploration
company on the NCS.

"We are very pleased with the award that was announced today. It reflects a
comprehensive application and gives us a foundation for maintaining our growth
ambition on the Norwegian continental shelf and our ambitious exploration
strategy. Phasing in oil and gas from new discoveries will be crucial to
ensuring long-term activity on the shelf, says Per Øyvind Seljebotn, SVP
Exploration and Reservoir Development in Aker BP.

Aker BP is offered licenses in the North Sea and the Norwegian Sea. West of
Yggdrasil, Aker BP is offered operatorship on the former Frigg field, where the
partnership plans to drill an exploration well already in Q2 2025.

"Although the shelf is maturing, we manage to continuously identify new
opportunities. Leveraging new technology, digitalization and investments in new
data are crucial for creating good exploration opportunities for many years to
come and ensuring growth and innovation in our sector. Our strategy is to have a
portfolio of exploration licenses that provides a good balance between
exploration wells near existing fields and infrastructure, and wells that, if
successful, can form the basis for standalone developments, says Seljebotn.

APA - Awards in Predefined Areas, is the annual licensing round that includes
mature areas of the Norwegian continental shelf. These are areas with known
geology and a relatively well-developed infrastructure with production
facilities and pipelines.

The award in TFO 2024 was announced by Minister of Energy Terje Aasland at the
Oil and Energy Policy Seminar in Sandefjord today. 20companies were offered
ownership interest in a total of 53licenses.

Link to the press release from the Ministry of
Energy  (https://www.regjeringen.no/en/aktuelt/tfo-2024-53-nye
-utvinningstillatelser/id3083489/)

Contacts:
Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217
Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

About Aker BP:
Aker BP is a leading exploration and production company focused on oil and gas
operations on the Norwegian continental shelf. The company operates the Alvheim,
Edvard Grieg, Ivar Aasen, Skarv, Ula, and Valhall field centres and is a key
partner in the Johan Sverdrup field. Headquartered in Fornebu, Norway, Aker BP
is listed on the Oslo Børs under the ticker AKRBP. For more information, visit
www.akerbp.com/en.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act and requirements under the EU Market
Abuse Regulation.