Norway’s Ocean Installer, a wholly owned subsidiary of Moreld Group, has secured a fast-track engineering, procurement, construction and installation (EPCI) contract with Vår Energi to execute all subsea umbilicals, risers, and flowlines (SURF) installation activities for the Balder Next New Wells project, in addition to the previously awarded procurement of flexible flowlines and risers.
The Balder Next New Wells project in the North Sea, for which Vår Energi and Kistos made the final investment decision (FID) earlier this month, comprises a first-phase development of seven new wells tied back to the FPSO Jotun, with first oil targeted within 2027 and project completion in 2028.