Marine construction contractor Ocean Installer, a Moreld subsidiary, has been awarded a contract for work on Vår Energi’s Balder Phase VI development.
The company has been awarded a fast-track EPCI contract for the Balder Phase VI project, which will further develop the Balder area.
This project is part of Vår Energi’s hub development strategy in the Balder area of the North Sea, which is centred around the newly installed Jotun FPSO. The project is scheduled to deliver first oil in 2026.
No financial details have been revealed. However, the contract is deemed as significant, which Moreld defines as being between NOK 500m and NOK 1bn ($49.6 and $99.3).
This contract was called off under the strategic partnership contract with Vår Energi signed in June 2022. It is also a continuation of a multi-year collaboration between the two companies in the Balder area, where Ocean Installer has been engaged since 2019.
In this period, Ocean Installer has been responsible for the fabrication and installation of the SURF equipment around the Jotun FPSO.
