Ocean Installer has been awarded a large-scale contract by Vår Energi for the Balder Next development in the Norwegian sector of the North Sea. The contract, valued between NOK 1 billion and NOK 2 billion ($98–196 million), covers project management, engineering, and the supply of flexible pipelines and risers.
This marks the initial stage of the Balder Next – New Wells project, ensuring early-phase engineering and long-lead flexible product deliveries. If the project’s Final Investment Decision (FID) receives approval, the subsequent scopes anticipated to be awarded to Ocean Installer would elevate the complete project classification to a “major” contract, exceeding NOK 2 billion in value.
The Balder Next – New Wells project will be executed under Vår Energi’s Subsea Partnership framework, with Ocean Installer responsible for subsea umbilicals, risers, and flowlines (SURF), and OneSubsea responsible for subsea production systems (SPS). Front-end engineering and procurement activities are already in progress, with flexible product manufacturing scheduled to begin in 2025. Offshore operations are planned for 2027 and 2028.
Located in the central North Sea, the Balder field is operated by Vår Energi, which holds a 90% interest, while Kistos owns the remaining 10%. The new wells development will expand production and prepare infrastructure for further tie-backs.
The contract is part of a broader strategic partnership between Ocean Installer and Vår Energi, signed in June 2022. The collaboration builds on a series of projects in the Balder area since 2019, including Balder Future and the fast-track Balder Phase VI project awarded before the summer.
Kevin Murphy, Ocean Installer CEO, said the contract reflects the strong partnership and continued trust between the two companies: “From our first collaboration on Balder Future in 2019 to the fast-track Balder Phase VI project awarded before the summer, our relationship with Vår Energi has been built on mutual trust and shared ambitions.”
Geir Austigard, CEO of Moreld, Ocean Installer’s parent company, added that the award marks a further milestone following earlier Balder projects, reinforcing long-term cooperation between the two companies.