Aker BP and alliance partner Aker Solutions are awarding Rosenberg Worley a
letter of intent for the construction of two modules for the new central
platform on the Valhall field in the North Sea. This contract represents the
largest new-build project in many years, and it will lead to 1,000 jobs at
Rosenberg in Stavanger.

"With this award, Aker BP and Aker Solutions are ensuring additional ongoing
activity in Norway, in a project that falls under the temporary tax changes. The
choice of a Norwegian yard is entirely deliberate. It demonstrates that we're
responding to the politicians' expectations to preserve activity, guarantee jobs
and develop expertise in Norwegian industry during the period before renewables
projects ramp up in scope," says Aker BP CEO Karl Johnny Hersvik.

Will provide more than 1,000 jobs
Aker BP and its licence partners are carrying out a coordinated development of
several licences in the Valhall area. The project is called Valhall PWP-Fenris
(previously NCP/King Lear) and it is being delivered by the Fixed Facilities
Alliance between Aker BP, Aker Solutions and ABB.

Valhall PWP consists of three large modules totalling more than 15,000 tonnes.
The process module will be built by Aker Solutions on Stord. Rosenberg Worley
will deliver the wellbay module and the utility module. The platform will be
assembled on Stord.

"This award is a good example of cooperation between competing companies such as
Aker Solutions and Rosenberg Worley to utilise a larger share of the supplier
base - in the best interests of the industry in Norway. It is entirely necessary
to keep and develop expertise in the industry," says Aker Solutions CEO Kjetel
Digre.

The letter of intent presumes approval of plan for development and operation
(PDO) by the Storting, and it has a value for Rosenberg of around NOK 1.6
billion. If approved, the Valhall modules will bring jobs for more than 1,000
people at Rosenberg in Stavanger. Construction is scheduled to start in autumn
2023.

"The construction of the Valhall modules will be important in maintaining the
high activity, and will help preserve expertise and capacity at Rosenberg in the
extension of ongoing projects and towards new market areas. We expect that
around 40 apprentices will be able to complete their vocational training as a
result of the project. These are young people who'll be essential in developing
renewable projects at our company in the future," says Rosenberg Worley Managing
Director Jan Narvestad.

Major investments
Aker BP and the licence partners Pandion Energy og PGNiG Upstream Norway are
planning to invest between NOK 40 and 50 billion in Valhall PWP-Fenris. The
partners are on track to submit the PDO towards the end of the year. The PDO
will be deliberated in the Storting before the summer of 2023.

"Through Valhall PWP-Fenris, we're planning to establish Valhall as a gas hub in
the southern North Sea, which will provide sorely needed gas deliveries to
Europe. At the same time, we'll be maximising the value of a giant with very low
emissions on the Norwegian shelf. This project is an important contribution
toward the ambition to produce a total of two billion barrels and extend the
lifetime of the Valhall area to 2060. The value creation from this area has vast
ripple effects and provides substantial tax revenue for the broader society,"
Karl Johnny Hersvik says.

In total, the development of Valhall PWP-Fenris is expected to create 65,000
full-time equivalents in Norway during the project and operations phase. The
Norwegian share of the project is more than 65 per cent.

The letter of intent will be marked at Rosenberg Worley at 12 on Friday. Press
is welcome to join.

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

About Aker BP:
Aker BP is an independent E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Aker BP is the
operator of Alvheim, Edvard Grieg, 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 'AKRBP'. More about Aker BP at www.akerbp.com.

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