Ocean Installer has been awarded a fast track EPCI (engineering, procurement, construction and installation) contract by Vår Energi for the Balder Phase VI project for the further development of the Balder area. 

This project is part of Vår Energi’s hub development strategy in the Balder area of the North Sea, which is centered around the newly installed Jotun FPSO. The project is scheduled to deliver first oil by end of 2026, reinforcing both companies shared commitment to efficient development of subsea tie-backs on the Norwegian Continental Shelf (NCS).

“Vår Energi is a key customer for Ocean Installer and the wider Moreld group. It’s exciting to see that Ocean Installer signs a new contract within the same week that the Jotun FPSO starts producing first oil as part of the Balder Future project, in which Ocean Installer has played a key role,” said Geir Austigard, Moreld CEO.

Geir Austigard, Moreld CEO. (Image credit: Ocean Installer)

This contract is called off under the strategic partnership contract entered into with Vår Energi in June 2022. It is also a continuation of a multi-year collaboration between Vår Energi and Ocean Installer in the Balder area, where Ocean Installer has been engaged since 2019. In this period, Ocean Installer has been responsible for fabrication and installation of the SURF equipment around the Jotun FPSO.

Kevin Murphy, Ocean Installer CEO. (Image credit: Ocean Installer)

“We are happy that Vår Energi continues to place their trust in us. Subsea tiebacks have been the core of our business for 14 years, and as the NCS transitions to more marginal fields, our expertise is valuable in enabling faster and more cost-efficient developments. Working together with Vår Energi to utilize existing infrastructure and previous experience has significantly shortened the overall project timeline, something both companies can be proud of,” said Kevin Murphy, Ocean Installer CEO.