Aker BP has assigned the development contract for the Lyra subsea project to OneSubsea. The Lyra project, previously known as Kjøttkake, is located approximately 44 kilometers from the Gjøa platform. This contract is intended to expedite the development of the Lyra field and utilize the existing infrastructure in the Nova field.
Details of the Lyra Project and Collaboration with OneSubsea
The Lyra project includes three subsea multi-well systems aimed at achieving approximately 37 million barrels of recoverable oil. Gross production is estimated to be around 20,000 barrels of oil equivalent per day (boepd) at plateau level. Currently, the development partners of this project are targeting first oil in the first half of 2028, nearly three years after the field was discovered in March 2025.
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OneSubsea emphasized that it has collaborated with Aker BP from the early stages of the project and has developed standardized solutions to reduce costs and expedite execution time. The development costs for the Lyra field are estimated to be around $20 to $25 per recoverable barrel.
Impact of New Contracts on the Oil Industry
This new contract follows a separate contract valued between $150 million and $300 million awarded to Subsea 7 for the engineering, procurement, construction, and installation of gas pipelines and subsea infrastructure. Given that Aker BP and its partners granted approval for the development of the Lyra field in late October, this project represents a significant step towards increasing oil production in the North Sea.
Aker BP holds a 45% operational stake in this project, while DNO and Concedo hold 40% and 15% stakes, respectively. According to the development partners' agreement, DNO will take back operational responsibility after production begins.
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