SLB OneSubsea wins subsea systems contract for Aker BP's Lyra field in Norway
SLB OneSubsea, the joint venture of SLB, Aker Solutions and Subsea7, was awarded a contract by Aker BP to deliver subsea production equipment, umbilicals and related services for the Lyra development on the Norwegian Continental Shelf. The fast‑track project targets first oil in 2028, three years after discovery. CEO Mads Hjelmeland said early collaboration with the operator allows the partners to shape the field strategy and speed up execution.
Why it matters
The contract adds to SLB OneSubsea's order backlog and should generate revenue from the Lyra field once production begins in 2028. Investors in SLB may see incremental earnings from the new subsea systems work.
Key facts
- 1SLB OneSubsea was chosen by Aker BP to supply subsea production systems, umbilicals and related services for the Lyra field on the Norwegian Continental Shelf. finance.yahoo.com
- 2The Lyra field, formerly known as Kjøttkake, is located about 44 km from the Gjøa platform in the northern North Sea. finance.yahoo.com
- 3The project is planned as a fast‑track development with first oil targeted for 2028, three years after discovery. finance.yahoo.com
- 4SLB OneSubsea CEO Mads Hjelmeland said early collaboration with Aker BP enables the partners to shape development strategy and create new offshore opportunities. finance.yahoo.com
- 5Aker BP senior vice president Marte Mogstad highlighted that the alliance and standardized subsea technology aim to make marginal resources economically viable through fast‑track execution. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.