Trondheim, 20 March 2023 - OKEA ASA (" OKEA ") is pleased to announce that it has entered into an agreement with Equinor Energy AS (" Equinor ") to acquire 28% working interest (" WI ") in PL037 (Statfjord Area) with effective date 1 January 2023 for an initial fixed consideration of USD 220 million (the " Acquisition "). Statfjord C. Source: Equinor Highlights OKEA CEO, Svein J. Liknes stated: " We are very pleased to announce this transaction with Equinor which represents another significant step in delivering value-accretive growth in line with our strategy. Through this acquisition, we are increasing production to well above 40,000 boepd in 2024, nearly three times higher than production at the time of launching our growth strategy in the fall of 2021. In addition, we are diversifying our asset base further without the need for any new financing. We look forward to initiating a fruitful cooperation with Equinor and their FLX team and continuing to create value as a leading mid- to late-life operator."