Norwegian-owned Ocean Installer breaks into Brazilian subsea sector

The Norwegian subsea company described the award as a major milestone, as it enters the world’s largest subsea market and makes plan to address other markets worldwide.

The scope of work covers installation of rigid well jumpers between flowlines and subsea trees, flying leads installation and associated pre‑commissioning. The scope covers numerous wells over a 4.5‑year period, with the first offshore campaign planned in 2027.

Located in the Santos Basin, the Bacalhau field is developed in ultra‑deep water of 2,100 m and is characterised by high reservoir pressure, making offshore operations technically demanding. As new wells are completed, they will be sequentially connected and brought on stream, requiring Ocean Installer to remain adaptable during execution.

Bacalhau is Equinor’s largest international offshore field and the first asset in the Brazilian pre-salt area to be entirely developed by an international operator.

Moreld chief executive Geir Austigard said the award is a ‘step‑change’ for Moreld. “This is Ocean Installer’s first award in Brazil,” he explained. “The scope involves production‑critical work on a major international asset operated by Equinor, reflecting Ocean Installer’s ability to deliver safely, reliably and consistently over time.”

Ocean Installer chief executive Kevin Murphy said the duration of the project provides a stable foundation to build a local organisation in Brazil. “Brazil is an attractive market with a significant pipeline of subsea projects to be executed,” he said. “We see strong alignment between upcoming opportunities and Ocean Installer’s core competencies.”

In parallel with the contract award, Ocean Installer has recently established a Brazilian entity and onboarded its first local employees, laying the foundation for a permanent and scalable local presence in the world’s largest global market for subsea projects.

Moreld defines a ‘significant contract,’ as between NKr500M and NKr1Bn in value. The firm contract value is estimated at the upper end of this interval.