First quarter 2023 trading update

19 Apr 2023 07:00 CEST

Aker BP (OSE: AKRBP) (OTCQX: AKRBF; AKRBY) will publish its financial report for
the first quarter 2023 on Thursday 27 April 2023. Today the company provides an
update on production and sales volumes and other relevant items for the quarter.

Oil and gas production and sales

Aker BP produced 452.7 thousand barrels of oil equivalents per day (mboepd) in
the quarter. Net volume sold amounted to 449.6 mboepd.

Volume (mboepd) Q1-23 Q4-22 Q3-22
Net production 452.7 432.0 411.7
Overlift/(underlift) (3.1) (3.7) (5.0)
Net sold volume 449.6 428.3 406.7
Of which liquids 384.1 362.2 342.2
Of which natural gas 65.5 66.0 64.5

Realised prices Q1-23 Q4-22 Q3-22
Liquids (USD/boe) 78.4 86.6 101.1
Natural gas (USD/boe) 98.7 150.4 280.9

Impairments

The company expects non-cash impairment charges of approximately USD 400 million
before tax (approximately USD 300 million after tax) in the first quarter
related to the Edvard Grieg area. This is mainly driven by the previously
announced termination of the Troldhaugen project and by reduced forward prices
leading to an impairment of technical goodwill allocated to the Edvard Grieg &
Ivar Aasen CGU.

Webcast

The company will release the first quarter 2023 results on 27 April 2023 at
07:00 CEST. At 08:30 CEST the same day, the management will present the results
on a webcast available on www.akerbp.com/en. The presentation will be followed
by an online Q&A session.

Disclaimer
The information in this statement is based on a preliminary assessment of the
company's first quarter 2023 financial results. The company has not completed
its financial reporting and related review and control procedures. The estimates
provided may therefore be subject to change and the financial statements finally
approved and released by the company may deviate from the information herein.

Contact
Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

About Aker BP:
Aker BP is a company engaged in exploration, field development and production of
oil and gas on the Norwegian continental shelf. The company operates the field
centres Alvheim, Edvard Grieg, Ivar Aasen, Skarv, Ula and Valhall, and is a
partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu,
Norway, and is listed on Oslo Børs under the ticker AKRBP. 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 and requirements under the EU Market
Abuse Regulation.

More information:
Access the news on Oslo Bors NewsWeb site

587895_Release.pdf