Ocean Installer has secured a major engineering, procurement, construction and installation contract from Vår Energi for the Balder Next New Wells project in the North Sea.
The project is part of Vår Energi’s Balder area hub development strategy, which is centered on the Jotun FPSO. First oil from Balder Next New Wells is targeted within 2027, with project completion planned in 2028.
The development covers seven single satellite well fields that will be tied back to the Jotun FPSO.
Under the new contract, Ocean Installer will execute all SURF installation activities. The scope adds to the previously awarded procurement of flexible flowlines and risers under an EPC contract awarded in November 2025.
The contract is the third project award under the subsea strategic partnership established by Vår Energi and Ocean Installer in June 2022. Execution will be carried out in cooperation with OneSubsea, which is responsible for SPS supply.
Moreld defines a major contract as having a value of more than NOK 2,000 million. The value of the new award excludes the earlier procurement scope for flexible flowlines and risers.
Executives from Moreld and Ocean Installer said the award continues the companies’ work with Vår Energi, following the Balder Future project and the ongoing Balder Phase VI project.
