Moreld ASA: Ocean Installer receives commitment for subsea tieback project in the AFMED region

01 Feb 2026 18:00 CET

Stavanger, 1 February 2026: Ocean Installer AS, a wholly owned subsidiary of
Moreld ASA, has received a commitment equivalent to a Letter of Intent (LOI)
from an undisclosed client. The commitment covers the execution of a subsea
tieback project in the Africa and Mediterranean (AFMED) region.

Offshore activities are planned for 2026 and 2027, with initial project
activities commencing immediately. The first offshore surveys are scheduled
for late Q1 2026. Upon full formalization, the award will be recognized as a
significant contract [1].

No further details will be disclosed at this time.

*Moreld defines a "significant" contract as between NOK 500 million and NOK 1
billion in expected value.

For more information, please contact:
CEO Geir Austigard
Telephone: +47 992 47 500
Email: Geir.austigard@moreld.com (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 15 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 (www.oceaninstaller.com).

More information:
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664567_Moreld ASA- Ocean Installer receives commitment for subsea tieback project in the AFMED region.pdf