Moreld AS

Regulatory Filings • Dec 18, 2025

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

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