Aker BP will publish its financial report for the third quarter 2019 on Tuesday
22 October 2019. The company issues this statement to summarise its production
and sales volumes and certain accounting-related topics for the quarter.

Oil and gas production and sales
Aker BP's net production in the third quarter 2019 was 146.1 thousand barrels of
oil equivalents per day ("mboepd"). The production volumes were below plan
mainly due to delayed stimulation and consequently start of production from new
wells at Valhall following the planned maintenance shutdown in June. The delay
has no impact on reserves. The start-up of new wells at Valhall, and the ramp-up
of the Johan Sverdrup field which started production in early October, are
expected to contribute to significant production growth over the coming
quarters.

Net sold volumes, which are the basis for revenue recognition in the financial
statement, were 143.3 mboepd, reflecting 2.9 mboepd in underlift. Production
volumes per field are specified below. The volumes are subject to final re
-allocation.

Asset                      Q3-19  Q2-19  Q3-18
Alvheim area                51.4   53.1   56.7
Ivar Aasen                  22.5   19.1   22.7
Skarv                       21.7   22.7   23.3
Ula area                     8.6    6.2   10.5
Valhall area                40.3   24.5   36.0
Other                        1.7    1.7    1.4
Net production             146.1  127.3  150.6
Over/(underlift)           (2.9)   13.4  (2.3)
Net sold volume            143.3  140.7  148.3
Of which liquids           113.4  112.8  117.6
Of which natural gas        29.8   27.9   30.7

Operating expenses
As described in the second quarter 2019 report, the company in June discovered a
failure in the tether frame connections on one of the Mid Water Assemblies
("MWA") at Alvheim. In the third quarter, costs related to repairs amounted to
approximately USD 14 million net to Aker BP. These costs will be recorded as
production costs in the third quarter, with any related insurance recoveries to
be recognised in future periods.

Impairment of technical goodwill
The company expects to make an impairment charge in the third quarter 2019 of
approximately USD 80 million related to technical goodwill. There is no deferred
tax associated with technical goodwill, hence this charge will not be tax
deductible.

Tax
The effective tax rate for the third quarter is expected to be impacted by
impairment of technical goodwill and an increase in deferred tax primarily
driven by currency movements (stronger USD versus NOK). As a result, the
effective tax rate is expected to be well above 100 percent for the quarter. The
tax payments during the quarter were USD 106 million, in line with previous
guidance.

Disclaimer
The information in this statement is based on a preliminary assessment of the
company's third quarter 2019 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 materially from the information
herein.

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

About Aker BP:
Aker BP is a fully-fledged E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Aker BP is the
operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The
company is also a partner in the Johan Sverdrup field. Aker BP is headquartered
at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker
'AKERBP'. 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.