Aker BP, together with SLB and Stimwell Services, has extended its alliance
agreement for another five years to further accelerate and boost oil
production.

[Well Intervention and Stimulation Alliance, signing ceremony. Sami Haidar, Karl
Johnny Hersvik, Oliver Le Peuch.jpg] Hand in hand for five more years. From left
Sami Haidar (Managing Director, StimWell Servies), Karl Johnny Hersvik (CEO,
Aker BP) and Olivier Le Peuch (CEO, SLB). The picture in the background was
taken at the alliance signing ceremony in 2019.

The renewed agreement was signed by the CEOs of all three companies at Aker BP's
headquarters at Fornebu on 2 April.

Formed in 2019, the alliance has successfully supported Aker BP's operated
assets in meeting production targets.

By combining collaboration, digitalisation and innovative technology, the
alliance has set new benchmarks for safe, efficient and cost-effective
operations. Milestones include simultaneous operations using jack-up rigs, a
reduced backlog of locked-in barrels, and the world's first autonomous
intervention operation. Today, planning and execution are handled through
digital workflows - resulting in increased productivity, lower risk, and
improved success rates.

Looking ahead, the alliance strategy remains firm: to transform offshore well
intervention and stimulation.

Over the next five years, the partners aim to continue delivering top-quartile
performance while further developing future-proof capabilities. This includes
scaling up digital transformation through deeper integration between subsurface
and operational domains, expanding the use of Aker BP's Integrated Operations
Centre for remote operations, and accelerating the deployment of new
technologies.

The alliance will also play a key role in putting wells on stream across Aker
BP's field development projects. In particular, the newly upgraded stimulation
vessel will be used to optimise the new Valhall PWP wells, contributing
significantly to future production.

Collaboration is the runway to the future

"Strategic partnerships are essential to shaping the future of our industry. At
Aker BP, we remain committed to the alliance model, which creates value through
long-term collaboration. It enables us to increase productivity, maintain world
-class performance, and deliver oil and gas with low cost and low emissions.
This is how we position ourselves as the E&P company of the future," said Karl
Johnny Hersvik, CEO of Aker BP.

Olivier Le Peuch, CEO SLB added: "Increasing production and recovery from
maturing assets is a top priority across the industry, and this alliance
demonstrates how we can drive progress together through the power of
partnership, The complex challenges facing our industry will increasingly
require deep collaboration and trust across teams, and this alliance has been a
cornerstone example of how powerful driving innovation together can be."

Sami Haidar, Managing Director, StimWell Servies said: "Stimulation has been
critical in unlocking and increasing the recovery from tight reservoirs such as
Valhall. During the last five years, the alliance working together, managed to
successfully develop very tight areas of the field, by using innovative
technology which significantly reduced the execution time, and CO2 footprint and
making it economic."

[Well Intervention and Stimulation Alliance signing ceremony group photo.jpg]
Well Intervention and Stimulation Alliance signing ceremony group photo.

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.