Norwegian project company Moreld ASA (Moreld) revealed that its subsidiary company Ocean Installer has been awarded the project management, engineering, flexible pipelines and risers product supply contract for the Balder Next development by Vår Energi.
The remaining scope of the Balder Next – New Wells project is subject to FID (Final Investment Decision) and Ocean Installer will then be responsible for the SURF.
Ocean Installer states that the front-end engineering and procurement activities are currently underway, with flexible products manufacturing scheduled to commence in 2025, and offshore operations planned for 2027 and 2028.
This contract is the first step in the Balder Next development, securing engineering for execution and long lead flexible products deliveries. If the Project FID (Final Investment Decision) is approved the remaining project scopes Ocean Installer is expected to be awarded will re-classify the full project to a major contract award.
The contract is called off under Ocean Installer’s Strategic Partnership with Vår Energi signed in June 2022 , and a continuation of Ocean Installer’s multi-year collaboration with Vår Energi in the Balder area since 2019.
Kevin Murphy, Ocean Installer chief executive officer, says that “We are incredibly proud that Vår Energi continues to again place their trust in Ocean Installer and it is particularly satisfying to see the speed in which the Vår Energi Strategic Partnership is able to mature these opportunities. From our first collaboration on Balder Future which started back in 2019 to the fast track Balder Phase VI project awarded before the summer, we’ve built a relationship defined by trust and shared ambitions.”
