Subsea7 Signs Contract Worth Up to $300 Million with Aker BP for Lyra Field

Subsea7 has been awarded a contract by Aker BP, valued at between $150 million and $300 million, for the accelerated development of the Lyra field in the Norwegian North Sea, previously known as Kjøttkake. The scope includes engineering, procurement, construction and installation (EPCI) of gas lift and production pipelines, together with the associated subsea infrastructure.

The Lyra field is located approximately 44 kilometers from the Gjøa platform and will be developed as a subsea tie-back to that platform via the existing infrastructure of the Nova field. The production pipeline will feature a pipe-in-pipe design, according to Splash247, or a double-walled design, according to Portal Portuario, and offshore installation will be carried out using vessels from Subsea7's fleet.

Engineering and project management work will begin immediately at Subsea7's office in Stavanger, while pipe fabrication will take place at the company's reel base in Vigra, both in Norway. Offshore activities are scheduled for 2026, 2027 and 2028. In December 2025, Subsea7 had already received a pre-commitment for the early procurement of critical long-lead items, which enabled the development's accelerated schedule to be maintained.

Erik Femsteinevik, Subsea7's Vice President in Norway, noted that Lyra demonstrates the strength of the Aker BP Subsea Alliance 2 and the company's ability to bring production online quickly, highlighting the contribution of the Stavanger and Vigra teams to a project that will generate value for the client, the partners and the Norwegian continental shelf.

The contract with Subsea7 was signed following the final investment decision taken by Aker BP and its partners the week before the announcement. The Lyra development comprises three subsea wells targeting around 37 million barrels of oil equivalent in recoverable resources, with estimated gross plateau production of around 20,000 barrels of oil equivalent per day. First oil is expected in the first half of 2028, just three years after DNO discovered the field with the semi-submersible rig Deepsea Yantai in March 2025. Aker BP's CEO, Karl Hersvik, stated that the development will use standardized subsea equipment to speed up execution, and indicated that the plan for development and operation will be submitted shortly to the Norwegian authorities.