Ocean Installer

What Ocean Installer does

Ocean Installer is a Norwegian marine construction company founded in 2011, headquartered in Stavanger, specializing in subsea and offshore energy project execution. The company delivers full EPCI (Engineering, Procurement, Construction and Installation) services across four business areas: SURF (Subsea Umbilicals, Risers and Flowlines), mooring installation, decommissioning, and offshore renewables. Over its operating history Ocean Installer has executed more than 100 projects globally, including nearly 100 dedicated SURF campaigns, with a workforce of approximately 280–350 employees across offices in Norway (Stavanger, Oslo, Stord), Aberdeen, Dubai, and Rio de Janeiro. Service delivery runs on an asset-light operating model using long-term charters of purpose-built construction support vessels — notably CSV Normand Vision (from Solstad, options extending to 2031) and North Sea Giant (from North Sea Shipping, through Q4 2029, with hybrid battery propulsion delivering up to 35% fuel reduction in DP mode).

Revenue is generated through fixed-price, multi-year EPCI contracts and project-based marine construction services with major international offshore energy operators. Primary customers include Equinor, TotalEnergies, Vår Energi, Anasuria Hibiscus, Baker Hughes, and Oceaneering, typically secured via direct enterprise sales, tender processes, and strategic partnership frameworks. Individual contract sizes range from NOK 100–500 million (sizeable) to over NOK 2 billion (major), with active multi-year engagements including the Bacalhau Well Tie-In (Brazil, Equinor), Balder Future / Phase VI / Next New Wells (Vår Energi), Troll Phase 3 (Equinor), and various TotalEnergies decommissioning programs. The asset-light vessel strategy, paired with a partnership-based consortium model (Baker Hughes, OneSubsea, Oceaneering, Petro Services), is the structural differentiator versus asset-heavy competitors such as Subsea 7 and Saipem.

Since June 2024, Ocean Installer has operated as a wholly owned subsidiary of the Moreld Group, alongside sister companies Moreld Apply and Global Maritime. The combined group reports more than 2,300 employees, over US$600 million pro-forma 2023 revenue, and over US$1 billion contracted backlog at the time of acquisition. Following the 2022 divestiture of its offshore wind business lines (under the prior Havfram brand), Ocean Installer has refocused on marine construction across oil & gas, floating wind, CCS, and IRM, with a stated strategy to transfer subsea expertise into the energy transition. The company is led by CEO Kevin Murphy, who co-founded the business in 2011.

Name

Ocean Installer

Legal name

Ocean Installer AS

Website

https://oceaninstaller.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

251–500 employees

Short description

Ocean Installer is a Norwegian marine construction company that delivers EPCI services — SURF, mooring, decommissioning, and offshore renewables — to major international offshore energy operators via an asset-light, partnership-based model. Founded in 2011, it operates as a subsidiary of Moreld Group.

Ownership category

akta.pro rank

Product category

Subsea Marine Construction Services

NAICS

Ship Building and Repairing (336611), Support Activities for Water Transportation (4883)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Underwater Inspection, Maintenance & Repair (UWILD, Diving/ROV, In-water Cleaning) (IMAJAFAJ)

akta.pro secondary industries

Retrofits & Modernization (Scrubbers, Ballast Water, Alternative Fuels, Energy-Saving Devices) (IMAJAFAH), Marine Outfitting & Interior Refurbishment (TLAKAKAL)

Keywords

• Subsea construction services
• Marine EPCI services
• SURF installation
• Offshore mooring systems
• Decommissioning services

Headquarters

HQ city

Stavanger

HQ country

Norway

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. EPCI Contracts: Full Engineering, Procurement, Construction and Installation services for subsea projects. Revenue generated through fixed-price contracts for SURF, mooring, decommissioning and offshore renewables projects with major energy operators.
2. Marine Construction Services: Construction support vessel services including installation, decommissioning, and IRM (Inspection, Maintenance and Repair) operations. Typically project-based with duration ranging from weeks to multi-year campaigns.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Ocean Installer is a Norwegian marine construction company that delivers full EPCI (Engineering, Procurement, Construction and Installation) services for offshore energy projects, with focus on subsea umbilicals, risers and flowlines (SURF), mooring, decommissioning, and offshore renewables. The company operates an asset-light partnership-based model, executing complex subsea projects globally through long-term vessel charters, strategic operator alliances, and a workforce of experienced offshore installers.

Product overview

Ocean Installer is a Norwegian marine construction company (part of Moreld Group) providing offshore and subsea energy solutions through four interconnected service lines: SURF (Subsea Umbilicals, Risers and Flowlines), Mooring, Decommissioning, and Offshore Renewables. The company operates an asset-light business model providing full EPCI (Engineering, Procurement, Construction and Installation) services. Core offerings are delivered through strategic vessel charters (Normand Vision and North Sea Giant) and partnerships with vessel owners, technology providers, and operators. The portfolio spans traditional oil and gas subsea construction to emerging markets in floating wind, CCS (Carbon Capture and Storage), and IRM (Inspection, Maintenance, Repair), unified by marine construction expertise applied across the energy transition.

Differentiator

Problem solved

Functional benefit

Products and services

• SURF (Subsea Umbilicals, Risers and Flowlines) Delivery of critical subsea infrastructure connecting production systems to floating or fixed facilities, including engineering, procurement, construction, and installation of umbilicals, risers, and flowlines. Targeted at major offshore oil and gas operators executing deepwater and harsh environment developments.
• Mooring Services Turnkey & Installation (T&I) and EPCI solutions for offshore mooring, including tow-out and hook-ups for FPSO installations, chain installation, mooring and pile installation, mooring systems with line rectification and replacement, and anchor systems. Targeted at FPSO operators and offshore field developers.
• Decommissioning Services Field abandonment and decommissioning of offshore assets and associated infrastructure, including mooring, riser, umbilical, pipeline, pile cutting, dredging and recovery. Services include subsea disconnection and recovery, FPSO station keeping and towing, cutting, drilling, disconnections and removal, and disposal and recycling services. Targeted at oil and gas operators with end-of-life offshore fields.
• Offshore Renewables Design-agnostic conceptual development planning and engineering, FEED engineering with crossover O&G experience in mooring, risers, and fabrication, and EPCI delivery of complete units and balance of plant for floating wind projects. Includes mooring systems, floating substructures, and dynamic cable installation using an asset-light right-tool-for-the-job approach. Targeted at floating offshore wind developers.
• EPCI Services (Engineering, Procurement, Construction and Installation) Full turnkey project delivery encompassing engineering, procurement, construction and installation services within SURF, mooring, decommissioning, and offshore renewables, delivered through a partnership-based business model with flexible asset strategy. Targeted at major offshore energy operators requiring integrated project execution.

Quantifiable outcome

• Zero Lost Time Incidents on Angola FPSO life extension project with 500+ vessel days and 560,000+ man-hours
• +3 more outcomes

Named customers7 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

Nine partnerships are on record, tiered core, strategic and minor.

• Moreld GroupcoreStrategic or Co-development Partner · 7 June 2024Moreld acquired Ocean Installer in June 2024, integrating it as a standalone sister company alongside Moreld Apply and Global Maritime. The acquisition creates a diverse offshore engineering and project execution group with over 2,300 employees. Ocean Installer retains its brand and continues operations as part of the Moreld portfolio.
• Solstad Offshore AScoreStrategic or Co-development PartnerSolstad Offshore provides the Normand Vision vessel, a purpose-built CSV for SURF operations. The long-term charter relationship has been extended multiple times, with current options extending to 2031. Normand Vision has executed over 55 projects globally since delivery in 2014.
• North Sea ShippingcoreStrategic or Co-development PartnerNorth Sea Shipping provides the North Sea Giant vessel, an advanced DP3 offshore construction vessel. Charter agreement extended through Q4 2029 with options to Q4 2029. Vessel equipped with hybrid battery system for fuel efficiency.
• Baker HughesstrategicStrategic or Co-development PartnerGlobal alliance agreement extended in April 2023 to deliver integrated subsea engineering solutions. Combines Baker Hughes technology with Ocean Installer's marine operations expertise. Builds on successful North Sea collaboration since 2019 Balder Future project.
• OceaneeringcoreStrategic or Co-development PartnerConsortium partner for Angola FPSO life extension projects. Oceaneering provides diving services, project management, engineering, and in-country operations support. Successfully delivered GIR FLEX replacement and riser projects offshore Angola.
• Vår EnergicoreStrategic or Co-development PartnerStrategic partnership established June 2022 for subsea work on Norwegian Continental Shelf. Covers Balder area development including Balder Future, Balder Phase VI, and Balder Next projects. Multiple project contracts called off under the partnership.
• OneSubseastrategicTechnology or IntegrationStrategic partnership member for Balder Next New Wells project. OneSubsea responsible for SPS (Subsea Production System) supply while Ocean Installer handles SURF installation activities.
• SaipemminorStrategic or Co-development PartnerAdvanced technological and engineering platform company. Partner network developed over 15 years to complement and extend Ocean Installer's capabilities.
• Ocean InfinityminorStrategic or Co-development PartnerInnovative robotic technology provider for ocean operations. Partner network company providing specialized technology capabilities.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Saipem: Italian multinational providing EPCI services for offshore oil & gas and renewables projects, including SURF, mooring, and floating wind installation. Saipem is a listed Ocean Installer partner and competes for the same major operator tenders globally.
• TechnipFMC: Integrated subsea provider offering subsea production systems, umbilicals, risers, flowlines, and installation services. Competes with Ocean Installer across SURF scopes and is referenced indirectly through the OneSubsea partnership (a TechnipFMC joint venture) on the Balder Next project.
• Helix Energy Solutions: US-based offshore energy services company with strong subsea well intervention, SURF, and decommissioning capabilities. Competes in similar subsea installation and abandonment workstreams, particularly in the Gulf of Mexico where Ocean Installer also operates.
• DOF Subsea: Norwegian subsea services provider with SURF, IMR, and vessel-based capabilities. Direct overlap with Ocean Installer on mooring, installation, and IRM scopes, particularly in the North Sea and Brazil.
• Subsea 7: Global leader in subsea engineering, construction, and SURF services for the offshore energy industry. Direct competitor across Ocean Installer's core SURF and mooring installation work, with a much larger vessel fleet and broader geographic footprint. Many Ocean Installer executives (CEO, COO, CFO) previously held roles at Subsea 7.
• DeepOcean: Norwegian-headquartered subsea services provider offering SURF, IMR, decommissioning, and renewables services. Highly comparable in size, geography, and service portfolio; competes for North Sea and Norwegian Continental Shelf tenders.
• McDermott: Offshore EPCI contractor with extensive SURF, mooring, and decommissioning capabilities. Competes for the same EPCI tenders as Ocean Installer, particularly in deepwater and harsh-environment developments where Ocean Installer specializes.

Broad incumbents

• Aker Solutions: Larger Norwegian engineering and construction company with subsea, SURF, and field development capabilities. Competes in adjacent scopes (subsea production systems, umbilicals) and offers broader lifecycle services than Ocean Installer's installation focus.
• Van Oord: Dutch marine contractor with extensive offshore wind installation capabilities. Less direct overlap in oil & gas SURF but increasingly competes in floating wind mooring and cable installation where Ocean Installer is positioning its renewables business.
• Oceaneering: Global subsea engineering and services company with diving, ROV, and intervention capabilities. Listed as an Ocean Installer consortium partner on Angola FPSO life extension work; competes in diving, IRM, and intervention scopes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/oceaninstaller
• LinkedInlinkedin.com/company/ocean-installer

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Ocean Installer