Moreld ASA: Ocean Installer received letter of award for sizeable EPCI contract at the Mikkel field from Equinor

18 Dec 2025 13:45 CET

Stavanger, 18 December 2025: Ocean Installer AS ("Ocean Installer"), a wholly
owned subsidiary of Moreld ASA ("Moreld"), received letter of award for a
sizeable* contract for brownfield work for Equinor:

* EPCI (Engineering, Procurement, Construction and Installation) project with
offshore operations set for 2027.
* Scope of work includes detail design of rock foundation carpets, spool
fabrication ,installation of FCU (Flow Condition Unit) and spools.
* The new spools will be fabricated using surplus material from previous
projects, reducing costs and environmental footprint and accelerating lead
time.
* A life extension project for the Mikkel field with the FCU enabling
production at a lower minimum flow rate.

This EPCI (Engineering, Procurement, Construction and Installation) project
includes detail design work, fabrication and installation of rigid spools, and
installation of the FCU (Flow Condition Unit) at the Mikkel field -- an
existing tie-back connected to the Åsgård subsea compression system in the
Norwegian sea.

The FCU's functionality is to dampen and accumulate the liquid surges
transported together with the gas flow stream, dosing liquid back into the gas
flow stream in a more stable rate, according to the liquid handling capacity
of the Åsgard subsea compression station

-- It is rewarding to see our continued success securing brownfield projects
like this, which we have been awarded multiple of in the recent years. We
expect these types of projects to become increasingly important in the North
Sea going forward given our clients focus on enhancing production using
existing facilities says Kevin Murphy, Ocean Installer CEO.

*Moreld defines a sizeable contract, as between NOK 100 million and NOK 500
million in expected value.

For more information, please contact:
CEO Geir Austigard
Telephone: +47 992 47 500
Email: Geir.austigard@moreld.com

CFO Trond Rosnes
Telephone: +47 404 14 494
Email: Trond.rosnes@moreld.com

About Moreld

Moreld is an industrial multi-disciplinary engineering group offering
full-scope services across the offshore energy and marine industries including
subsea installations. The group comprises Moreld Apply, Ocean Installer and
Global Maritime. Moreld is a major player on the Norwegian continental shelf
with an international footprint. The Group is located in 19 countries, giving
access to all major offshore markets, and has over 2,800 employees and
contractors. For more information, please visit https://moreld.com/.

About Ocean Installer

Ocean Installer is a leading marine construction company that specializes in
offshore installation services with more than 14 years of experience
delivering large and complex subsea projects worldwide. The company was
founded in 2011 and joined the Moreld group in 2024. Ocean Installer is
headquartered in Stavanger, with regional offices in key locations including
Oslo, Aberdeen, and Dubai. For more information, please visit
www.oceaninstaller.com

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662394_Moreld ASA- Ocean Installer received letter of award for sizeable EPCI contract at the Mikkel field from Equinor.pdf