Moreld

What Moreld does

Moreld ASA is a publicly listed Norwegian industrial group (OSE:MORLD) headquartered in Stavanger, operating through three core subsidiaries — Ocean Installer (subsea SURF, moorings, IRM, and CCS construction), Moreld Apply (maintenance, modification, and multi-discipline engineering for offshore platforms), and Global Maritime (marine, offshore, and engineering consultancy across 25 offices in 15 countries). The group also holds a one-third stake in Hydepoint AS, a joint venture with Kongsberg Gruppen and Arendals Fossekompani commercializing an offshore wind-to-hydrogen energy conversion system.

The company's technology base centers on subsea installation engineering, project execution know-how on the Norwegian Continental Shelf, and access to advanced offshore construction assets — most notably an 18-month-extended charter (with options through Q4 2029) for the DP3 North Sea Giant vessel equipped with a hybrid battery system, 400Te active heave-compensated crane, and two work-class ROVs. Moreld's revenue is generated almost entirely through project-based and frame agreement contracts with international E&P operators, including Equinor (FLX and the newly awarded EMOD/EPRO frame agreement running through 2031), Vår Energi (Balder strategic partnership yielding three consecutive SURF projects), TotalEnergies, Aker BP, Shell, ExxonMobil, and Chevron, plus emerging work in green hydrogen EPCI (HYDS) and offshore wind (Hydepoint).

Moreld employs approximately 2,500-3,000 staff across 15-19 countries, generated nearly NOK 10 billion in FY2025 revenue (~10% organic growth over the NOK 9.1B 2024 pro-forma base) and NOK 1.1 billion in adjusted EBITDA, and held a contracted backlog of NOK 6.3 billion as of Q1 2026. The company is listed on Euronext Oslo Børs following its December 2024 IPO on Euronext Growth Oslo and the June 2025 uplisting.

Name

Moreld

Legal name

Moreld ASA

Website

https://moreld.com

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Moreld ASA is a publicly listed Norwegian industrial group providing integrated subsea installation, platform maintenance and modification, and offshore engineering consultancy services to major E&P operators globally through Ocean Installer, Moreld Apply, and Global Maritime.

Ownership category

akta.pro rank

Product category

Offshore Engineering Services

NAICS

Ship Building and Repairing (336611), Other Specialty Trade Contractors (2389)

SIC

Ship & Boat Building & Repairing (3730), Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Pipe-lay & Heavy-lift Offshore Vessel Construction (IMAJACAE)

akta.pro secondary industries

Underwater Inspection, Maintenance & Repair (UWILD, Diving/ROV, In-water Cleaning) (IMAJAFAJ), Underwater Salvage & Diving Operations (UWILD, Cutting, Welding) (IMAJANAD), Hydrodynamics & Performance Engineering (Resistance, Propulsion, Seakeeping, Maneuvering) (IMAJAGAB), Steel Fabrication & Marine Engineering (Custom Fabrication, Modifications, Conversions) (TLAHAMAH)

Keywords

• Offshore engineering services
• Subsea installation services
• Offshore maintenance services
• Marine engineering consultancy
• Offshore energy services

Headquarters

HQ city

Stavanger

HQ country

Norway

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Engineering, Procurement, Construction, and Installation (EPCI): Large-scale project-based contracts for subsea installation (SURF), topside EPCI, and marine construction. Revenue recognized over project execution periods. Major contracts defined as above NOK 2 billion in expected value.
2. Maintenance and Modification (M&M) Services: Ongoing frame agreements and contracts for maintenance and modification work on offshore platforms and onshore/offshore facilities. Includes the Equinor FLX contract and new EMOD/EPRO frame agreement covering large, complex modifications.
3. Engineering Consultancy and Marine Operations Support: Engineering consultancy, integrated geoscience, and marine operations support services across the full offshore project lifecycle. Delivered through Global Maritime across 25 offices in 15 countries.
4. Vessel Chartering and Spot Work: Short-duration vessel chartering arrangements including spot market employment of the North Sea Giant and other vessels. Provides revenue diversification and flexible capacity utilization.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Moreld is an industrial multi-disciplinary engineering group providing integrated services across the offshore energy, marine, and industrial sectors. Through its three operating subsidiaries — Ocean Installer (subsea SURF installation, moorings, IRM, CCS), Moreld Apply (maintenance and modification of offshore platforms, renewable energy support), and Global Maritime (engineering consultancy and marine operations support) — the company delivers end-to-end project execution from concept engineering through installation, maintenance, and decommissioning for major E&P operators and renewable energy developers worldwide.

Product overview

Moreld is an industrial multi-disciplinary engineering group offering full-scope services across the offshore energy and marine industries. The company operates as a platform of integrated subsidiaries rather than a single product: Ocean Installer provides subsea installation services (SURF, moorings, IRM, CCS); Moreld Apply delivers maintenance, modification, and engineering services for offshore platforms with renewable energy capabilities (hydrogen, offshore wind); Global Maritime offers engineering consultancy and marine operations support across the project lifecycle; and Hydepoint (jointly developed with Kongsberg and Arendals Fossekompani) provides offshore wind energy conversion solutions with hydrogen production capability. Together these brands enable integrated project delivery from engineering through installation and decommissioning.

Differentiator

Problem solved

Functional benefit

Products and services

• Ocean Installer Specialist marine and subsea construction company offering SURF (subsea umbilicals, risers, and flowlines) installation, moorings, offshore renewables, IRM (inspection, repair, and maintenance), and CCS (carbon capture and storage) services for offshore energy developments worldwide.
• Moreld Apply Multi-discipline engineering company providing maintenance and modification services for offshore oil and gas platforms on the Norwegian Continental Shelf, with specialist support for renewable energy projects including carbon capture, hydrogen, and offshore wind.
• Global Maritime Marine, offshore, and engineering consultancy providing full offshore project lifecycle engineering, consultancy, integrated geoscience, and marine operations support across 25 offices in 15 countries.
• Hydepoint Complete offshore solution for receiving, converting, and transmitting energy from offshore wind farms with reduced dependence on the onshore power grid. The system can convert energy into hydrogen for storage and alternative energy carrier production.

Quantifiable outcome

• Revenue of NOK 2.9 billion in Q1 2025 (+18% YoY), nearly NOK 10 billion for full-year 2025
• +3 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• OneSubseacoreStrategic or Co-development Partner · 1 June 2026OneSubsea is a strategic partnership member on the Balder Next New Wells project, responsible for supplying the Subsea Production System (SPS). Ocean Installer executes all SURF installation activities in close cooperation with OneSubsea under the Vår Energi strategic partnership.
• Hydrogen Solutions (HYDS)coreStrategic or Co-development Partner · 1 February 2026Moreld Apply signed a Letter of Intent with Hydrogen Solutions (HYDS) to act as EPCI (Engineering, Procurement, Construction, and Installation) partner for the KaupEx and HyFuel projects — two planned 20 MW green hydrogen production facilities in Norway. The project reached Final Investment Decision (FID), with final contract signing expected in the coming months. HYDS has received Enova support for these projects.
• North Sea ShippingminorOthers · 1 February 2025Ocean Installer extended its charter-party for the advanced multi-purpose offshore construction vessel North Sea Giant with North Sea Shipping. The extension is for 18 months to the end of Q1 2027, with an additional option through Q4 2029. North Sea Giant is a DP3 vessel with hybrid battery system, equipped with a 400Te active heave compensated crane and two work class ROVs.
• Hydepoint AS (Arendals Fossekompani, Kongsberg, Moreld)coreStrategic or Co-development Partner · 1 October 2024Hydepoint AS is a joint venture between Arendals Fossekompani, Kongsberg Gruppen, and Moreld to develop and commercialize Hydepoint — an offshore solution for receiving, converting, and transmitting energy from offshore wind farms, including conversion to hydrogen. All three partners hold equal ownership stakes. Moreld contributes offshore infrastructure solutions, Kongsberg provides power and management systems, and Arendals Fossekompani contributes power market expertise through its portfolio company Volue.
• Vår Energi (Strategic Partnership)coreStrategic or Co-development Partner · 1 June 2022Ocean Installer and Vår Energi established a subsea strategic partnership in June 2022. The Balder Next New Wells project (awarded June 2026) is the third project under this strategic partnership, following Balder Future and Balder Phase VI projects. The partnership covers SURF installation activities and procurement of flexible flowlines and risers (EPC) for Vår Energi's hub development strategy centered around the Jotun FPSO in the North Sea.

Scale indicators9 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Aker Solutions: Aker Solutions is a Norwegian-headquartered offshore engineering and modification services provider that competes directly with Moreld Apply on NCS platform M&M and with Ocean Installer on offshore EPCI scopes, including offshore wind and CCS projects.
• Saipem: Saipem is a major Italian EPCI contractor competing for offshore and subsea installation work. It overlaps directly with Ocean Installer in SURF and with Moreld Apply in offshore platform modifications, particularly on international tenders.
• DeepOcean: DeepOcean is a subsea services contractor offering SURF, IRM, and trenching services. It directly competes with Ocean Installer in the North Sea subsea installation market and increasingly on offshore wind cable installation.
• TechnipFMC: TechnipFMC is a leading subsea engineering and construction player supplying subsea production systems and SURF installation. It directly competes with Ocean Installer on integrated EPCI scopes and is a partner on the Vår Energi Balder Next project through OneSubsea.
• McDermott International: McDermott is a global offshore EPCI contractor competing with Moreld on integrated subsea-to-topside scopes, particularly on deepwater developments where its heavy-lift vessel fleet and integrated engineering compete with Ocean Installer's offerings.
• Subsea 7: Subsea 7 is the largest pure-play subsea construction, SURF, and IRM contractor globally. It directly competes with Moreld/Ocean Installer on SURF tenders and offshore installation scopes with major E&P operators on the NCS and internationally.
• DOF Group: DOF Group is a Norwegian offshore vessel operator and subsea services provider competing with Ocean Installer on IRM, subsea installation support, and vessel-based scopes in the North Sea and Atlantic basins.

Emerging players

• Helix Energy Solutions: Helix provides well intervention and offshore production services including subsea robotics and IRM. It competes with Ocean Installer on subsea inspection, intervention, and life-of-field services, particularly in the Gulf of Mexico and North Sea.
• Oceaneering International: Oceaneering provides subsea robotics, ROV operations, and offshore engineering services. It competes with Ocean Installer on ROV-based inspection and intervention work and with Global Maritime on marine operations support.

Broad incumbents

• Wood Group: Wood is a global engineering and consultancy firm with significant offshore energy exposure. It competes with Global Maritime's engineering consultancy offering across offshore project lifecycle services, though at much broader scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/moreld-ocean-wind

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Moreld