Subsea7 wins EPCI contract for fast-track oil development off Norway

Subsea7 has won an engineering, procurement, construction, and installation (EPCI) contract with Aker BP for the fast-track Lyra field development in the Norwegian Sea. The contract, valued at around NOK 1.5 billion ($160 million), covers the delivery and installation of subsea production systems, including manifolds, templates, and tie-in systems.

The Lyra field is part of Aker BP's fast-track development strategy, aiming to reduce time to first oil. The field is expected to start production in 2023, with an estimated recoverable volume of 11 million barrels of oil equivalent.