Ocean Installer has secured an engineering, procurement, construction, and installation (EPCI) contract for the Balder Phase VI project by Vår Energi, marking a significant step in the development of the Balder area in the North Sea.
Central to Vår Energi’s hub development strategy, this project is set to deliver first oil by the end of 2026.
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The Balder Phase VI project revolves around the newly installed Jotun FPSO and is a testament to the shared focus of both companies on the efficient development of subsea tie-backs on the Norwegian Continental Shelf (NCS).
Moreld CEO Geir Austigard said: “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.”
This latest contract is a result of the strategic partnership contract with Vår Energi from June 2022 and continues the multi-year collaboration between the two companies in the Balder area.
From 2019, Ocean Installer has been a key player in the fabrication and installation of the subsea umbilicals, risers, and flowlines (SURF) equipment around the Jotun FPSO.
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By GlobalDataOcean Installer CEO Kevin Murphy said: “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 utilise existing infrastructure and previous experience has significantly shortened the overall project timeline, something both companies can be proud of.”
In January 2024, a consortium comprising Ocean Installer and Oceaneering won a major contract from TotalEnergies EP Angola and its Block 17 partners.
