Aker BP and DNO have made the final decision to develop the Lyra oil field in the North Sea. This field, previously known as the Kytakak discovery, is expected to start oil production in the first half of 2028.
Details of the Lyra Project
This project is located in production license PL1182S in the GeoA area and includes three multi-well subsea wells that will connect to existing Nova infrastructure. Oil production from this field will be transferred to the GeoA platform.
The Lyra field has an estimated 37 million barrels of recoverable oil resources and is expected to have a gross production of about 20,000 barrels of oil per day.
Development Costs and Planning
Aker BP's CEO, Karl Johnny Hersvik, confirmed this investment decision during the presentation of the quarterly financial results and added that the company will soon submit the development and operational plan to Norwegian authorities. The development costs of this project are estimated to be around $20 to $25 per recoverable barrel, which translates to an investment of approximately $740 to $925 million based on the 37 million barrel estimate.
Hersvik described this project as a fast-track development and stated that the project partners intend to start production about three years after its discovery in March 2025. This project will utilize standard subsea equipment and existing infrastructure to reduce development time and operational costs.
Aker BP holds 45 percent of the operational interests in the Lyra field, while DNO holds 40 percent and Concedo holds 15 percent. According to an agreement signed in November 2025, Aker BP took over the operational responsibility from DNO to expedite development, and DNO will regain operational responsibility after production begins.
DNO had previously discovered this field using the Deepsea Yantai semi-submersible rig, and initial resource estimates varied between 39 to 75 million barrels of oil equivalent. The Lyra field is one of several subsea tie-back projects being pursued around GeoA and has become DNO's largest production hub on the Norwegian coast.
