DETNOR02: Distribution Put Option Expired

Reference is made to the stock exchange notice from Aker BP ASA ("Aker BP") dated 17 February 2017 relating to a Distribution Put Option in Det norske oljeselskap ASA 13/20 FRN (ISIN NO 001068414.5).

The deadline to exercise the Distribution Put Option at 107% of par plus accrued interest was set to 3 March 2017, and Aker BP has now obtained the results from the Distribution Put Option.

Bondholders representing NOK 276,390 nominal worth of DETNOR02 have exercised their put option. Aker BP will not cancel the bonds, and the gross nominal amount of DETNOR02 will thus remain NOK 1.900 million. Aker BP holds NOK 3,776,390 nominal worth of DETNOR02.

Contacts:
Investor contact: Jonas Gamre, VP Investor Relations, tel.: + 47 971 18 292
Media contact: Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

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.

About Us

Det norske is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf (NCS). We are building one of Europe's largest independent E&P companies. Det norske is the operator of the producing Alvheim field and for the Ivar Aasen field development. In addition, the company is partner in the Johan Sverdrup field. Det norske has an active exploration programme on the Norwegian shelf and an ambitious strategy for growth. Det norske's headquarters are located in Trondheim, with branch offices in Stavanger, Oslo and Harstad. Det norske is listed on Oslo Børs with ticker 'DETNOR'. More about Det norske at www.detnor.no/en/.

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