Ocean Installer has secured its first contract in Brazil through an agreement with Equinor for subsea installation work at the Bacalhau field in the Santos Basin.
The scope covers the installation of rigid well jumpers between flowlines and subsea trees, flying leads, and related pre-commissioning work for multiple wells. The contract runs for four and a half years and includes options for extension and rigid jumper fabrication.
The award also supports Ocean Installer’s local expansion. The company has established a Brazilian entity and hired its first local employees as it prepares to build a long-term operating base in the country.
The contract is classified as significant, with an expected value of NOK 500 million to NOK 1 billion, equivalent to about €45.8 million to €91.6 million. The first offshore campaign is expected in 2027.
Moreld Group CEO Geir Austigard said the award marks a step change for the group, with production-critical work on a major international asset operated by Equinor.
The Bacalhau field lies in ultra-deepwater at 2,100 m. It is described as Equinor’s largest international offshore field and the first Brazilian pre-salt asset to be fully developed by an international operator.
Ocean Installer CEO Kevin Murphy said the long contract period gives the company a stable basis for building its Brazilian organization. He also noted that Brazil has a strong subsea project pipeline that matches the company’s core capabilities.
