Aker BP and Aker Solutions have signed a long-term agreement with owner and real
estate developer Hinna Park Utvikling (HPU) for modern and energy efficient
office buildings in Stavanger from 2024/2025.

The new office complex will be located seaside near the leaning tower in
Jåttåvågen. The total contruction cost is NOK 2 billion.

"This is a great and important milestone for Aker BP and Aker Solutions. Through
the agreement with HPU we secure long-term, modern and future-oriented offices
for the good of the Aker companies in Stavanger. It also reflects our intention
to continue with a high activity-level for many years to come", says Marius
Gjære, SVP Project Resources and Manager of Aker Solutions Stavanger office.

"The new office complex is tailor made for flexibility and collaboration. The
future offices will support our ambition to be in the forefront in the
transformation of the oil and gas industry, and will among other things include
an integrated operation center for remote operations of our offshore fields",
says Ine Dolve, SVP Operations and Field Development and Manager of Aker BP's
Stavanger office.

The development project has been named "Valhall" and will consist of two six
-story buildings of a total of 71,000 square meters. Aker BP and Aker Solutions
have signed separate long-term leases for a total of 48,000 square meters, split
on the two buildings. There will also be area available for third-party tenants
in the office complex.

The new buildings will accommodate extensive digital collaboration and efficient
execution of activities onshore and offshore. The buildings will be located in
close proximity of public transportation, including bus and train.

HPU owns of the property and will be responsible developer in cooperation with
main contractor HENT. Construction start is scheduled for September, provided
public approvals.

The first phase of the development project is schedule for completion by the end
of 2024, while the remaining office space will be ready before the summer of
2025.

The parties have signed a lease agreement with a duration of 10 years for the
main part of the office complex. In addition, Aker BP has signed an extended
lease agreement for 15 years for a specially designed collaboration center in
one of the buildings.

During the coming 10 years, HPU is planning to transform Jåttåvågen to a central
residential and business area for the region, with 1500 housing units and 6000
office places that will be developed together with restaurants, parks, public
services and swimming area.

With this agreement, Aker BP and Aker Solutions will play a central role in the
development of the area.

Facts:

  · Hinna Park Utvikling (HPU) owns the ground where Aker BP and Aker Solutions'
new office buildings will we located.
  · HPU is owned by Stavanger utvikling KF, Entra, Camar Eiendom and OBOS
  · Aker BP and Aker Solutions will lease a total of 48,000 square meters
divided on the two separate buildings that are a part of the Valhall office
complex. They will have separate leasing agreements.
  · The basement floor, which includes parking spaces for cars and bicycles,
amounts to approximately 14,000 sqm.
  · The project will be developed as buildings for the future with high focus on
environment, quality and sustainable solutions, including energy class A and
Breeam-Nor Excellent environmental certification. In addition, Valhall will be
built according to the WELL Building Standard.
  · The buildings will be located on either side of the new buss road that is
planned through the area.

Contact:
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, 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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