Ocean Installer has been awarded a major engineering, procurement, construction and installation (EPCI) contract by Vår Energi for the Balder Next New Wells project in the North Sea.The project forms part of
Ocean Installer has been awarded a major engineering, procurement, construction and installation (EPCI) contract by Vår Energi for the Balder Next New Wells project in the North Sea.
The project forms part of Vår Energi's hub development strategy in the Balder area, centered around the Jotun floating production, storage and offloading (FPSO) vessel.
The Balder Next New Wells project comprises a seven single-satellite well field expansion tied back to the Jotun FPSO. First oil is targeted within 2027, with project completion scheduled for 2028.
Ocean Installer will carry out all subsea umbilicals, risers and flowlines (SURF) installation activities in addition to the procurement of flexible flowlines and risers that was awarded in the fourth quarter of 2025.
The company said the award is classified as a major contract by parent company Moreld and is among the largest contracts in Ocean Installer's history. Moreld defines a major contract as having a value of more than $200 million (NOK 2 billion), excluding the previously awarded procurement scope.
The contract is the third project award under the subsea strategic partnership established between Vår Energi and Ocean Installer in June 2022.
Project execution will be carried out in cooperation with strategic partnership member OneSubsea, which
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