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.

   - Ocean Installer awarded Balder Phase VI development fast track EPCI contract under the Vår Energi Strategic Partnership
   - Part of Vår Energi’s Balder area hub development strategy
   - Project is a subsea tieback to the Jotun FPSO, which started production on June 23
   - First oil from Balder Phase VI expected within 2026
   - Ocean Installer will execute SURF activities including the fabrication and installation of flexible flowlines and umbilicals

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.

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.

"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.

About Ocean Installer

Ocean Installer is a leading marine construction company that specializes in providing installation services, as well as inspection, maintenance, and repair of offshore subsea infrastructure. With a workforce of approximately 300 employees, the company was founded by HitecVision in 2011 and has over 13 years of experience delivering large and complex subsea projects worldwide. Headquartered in Stavanger, Ocean Installer operates regional offices in key locations including Oslo, Houston, Aberdeen, and Dubai.

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the Norwegian continental shelf. We are committed to deliver a better future through responsible value driven growth based on over 50 years of NCS operations, a robust and diversified asset portfolio with ongoing development projects, and a strong exploration track record.

Safe and responsible operations are at the core of our strategy. Our ambition is to be the safest operator on the NCS, and to become carbon neutral in our net equity operational emissions by 2030.

Vår Energi has around 1400 employees and equity stakes in 42 producing fields. We have our headquarters outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø.