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Helix Energy Group to provide Petrobras with well intervention aid

12th February 2014

Helix Energy Solutions Group, Inc has agreed to supply Petrobras with well intervention services offshore Brazil

Petrobras orders two vessels from Helix Energy Group for offshore Brazil

Helix Energy Solutions Group, Inc. has concluded agreements with Petróleo Brasileiro S.A. (Petrobras) to supply well intervention services offshore Brazil.

The company will be delivering the services with two new build chartered monohull vessels, which is set to be constructed at the Flensburger shipyard in Germany for Siem Offshore AS (Siem).

Helix will prepare the topsides and handle the incorporation of well intervention equipment onto the vessels, while Siem will be accountable for the monohull build in addition to overseeing shipyard construction.

Siem will be the administrator of the vessels, and they will charter both the vessels and the marine crew to Helix for a preliminary period of seven years.

Helix’s total investment in the topside equipment for both vessels is estimated to be about USD 260m. The initial term of the contract with Petrobras is for four years with an option to extend.

The first vessel is projected to be operational for Petrobras mid-2016, with the second vessel to occur later that year.

Owen Kratz, president and chief executive officer of Helix, said, “Brazil represents a significant opportunity for Helix, as does a relationship with Petrobras. This is a major step forward in the execution of our strategic goal to be the best-in-class global leader to rig alternative intervention.”

He added that “This award demonstrates the capacity for Helix to provide innovative solutions to fit the client need backed by our proven reliable track record.”

Helix Energy Solutions Group is a Houston-headquartered international offshore energy company that focuses on handling offshore challenges, by using vessels that operate on subsea fields worldwide.

 

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