Johan Sverdrup - phase 4 maturation

Aker BP notes today's announcement by Equinor, operator of Johan Sverdrup, regarding the maturation of a potential phase 4 development in the northern part of the field.

Appraisal wells and sidetracks in the Tonjer and Geitungen areas have identified additional resources, with a preliminary resource estimate of 20-30 million barrels of oil equivalent. The resource base will be further clarified through ongoing analysis.

The development concept under consideration is a subsea tie-back to existing Johan Sverdrup infrastructure. This enables efficient development with low unit costs, low emissions and a short lead time from investment decision to first production.

The project is being further matured towards an investment decision, with a potential production start in 2029.

The development is aligned with the partners' strategy to maximise value creation from existing fields through increased utilisation of installed capacity and phased development of adjacent resources.

Aker BP holds a 31.7 percent interest in Johan Sverdrup. The partnership consists of Equinor (operator), Aker BP, Petoro and TotalEnergies.

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

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, Eiga (Edvard Grieg and 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.