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Moreld Unit Wins Contract for Vår Energi's North Sea Project

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Multidisciplinary engineering group Moreld (MORLD.OL) unit Ocean Installer secured a major contract for Vår Energi's (VAR.OL) Balder Next New Wells project in the North Sea.

The engineering, procurement, construction, and installation contract aims to support the continued development of the Balder area, with first oil targeted for 2027, according to a Friday filing.

The project will be executed in partnership with OneSubsea, which will supply the subsea production system.

The company defines a major contract as more than 2 billion Norwegian kroner in value.

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