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FINWIRES

Moreld Unit Wins Well Tie-in Contract for Equinor's Bacalhau Project

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Moreld's (MORLD.OL) subsidiary Ocean Installer secured a four-and-a-half-year contract for the well tie-in scope of Equinor's (EQNR.OL) Bacalhau project in the Santos Basin.

The contract, expected to be valued between 500 million Norwegian kroner and 1 billion kroner, covers the installation of rigid well jumpers between flowlines and subsea trees, flying leads installation, and related pre-commissioning activities, according to a Wednesday release.

The industrial multi-disciplinary engineering group has planned the first offshore campaign for 2027.

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