Siem Helix 2

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Dec. 14, 2021-- Helix Energy Solutions Group, Inc. (NYSE: HLX) is pleased to announce that it has entered into an extension of its well intervention charter and services contracts for the Siem Helix 2 offshore Brazil with Petróleo Brasileiro S.A. (Petrobras).

The initial four-year contract for the Siem Helix 2 has been extended by one year at a reduced rate reflective of the current market. The Siem Helix 2 is now set to remain under contract with Petrobras until mid-December 2022 performing riser-based well intervention activities. The Siem Helix 2 is a purpose-built, advanced well intervention vessel capable of performing a wide range of subsea services including production enhancement, well decommissioning, subsea installation work, offshore crane and ROV operations, offshore construction work and emergency response capabilities.

Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, stated, “On the back of our recent accommodation and support contract for sister ship the Siem Helix 1 in Ghana for another customer, we are glad to finalize this process and look forward to continuing a long and productive working relationship with Petrobras. The Siem Helix 2 has consistently provided industry-leading well intervention services to Petrobras. This extension demonstrates the capacity for Helix to continuously provide innovative solutions to fit our clients’ needs backed by our experience and proven track record.”

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Helix Energy Solutions Announces Two-Year Contract Extension with Petrobras for Siem Helix 2

Sep 19 2022

Extension of Well Intervention contracts demonstrates strength of market and delivery of world-class services to long-term customer.
Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it has entered into a two-year extension of its well intervention charter and services contracts with Petróleo Brasileiro S.A. (“Petrobras”) for the Siem Helix 2 well intervention vessel offshore Brazil. The negotiated extension is scheduled to conclude in December 2024 and directly follows Helix’s current contracts with Petrobras.

Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, stated, “We are glad to negotiate this contract extension and look forward to continuing our long and productive working relationship with Petrobras. Market conditions globally and in Brazil have been improving, and demand for our world-class assets and experienced crews has been steadily increasing. The Siem Helix 2 has consistently provided industry- and global-leading well intervention services to Petrobras. This two-year extension demonstrates the capacity for Helix to continually provide innovative solutions to fit client needs, backed by our experience and proven track record, and supports our Energy Transition business model of offering clients the ability to maximize production from their existing wells.”

The Siem Helix 2 is a purpose-built, advanced well intervention vessel capable of performing a wide range of subsea services including production enhancement, well decommissioning, subsea installation, offshore crane and Remotely Operated Vehicle operations, offshore construction and emergency response. The vessel is currently performing riser-based well intervention activities in the Santos and Campos Basins and to date has completed more than 60 well interventions for Petrobras.