Helix finalizes well intervention contract with Petrobras

Helix Energy Solutions Group Inc. has entered into amendments to its well intervention services contracts for its two chartered vessels offshore Brazil.

Offshore staff

HOUSTONHelix Energy Solutions Group Inc. has completed its contract renegotiations with Petrobras, and has entered into amendments to its well intervention services contracts for its two chartered vessels, the Siem Helix 1 and the Siem Helix 2, offshore Brazil.

The contract for theSiem Helix 1, originally scheduled to begin no later than July 22, 2016, was amended to commence between July 22, 2016 and Oct. 21, 2016. The day rate under the contract has been reduced to a level acceptable to both parties.

The contract for theSiem Helix 2, originally scheduled to begin no later than Jan. 21, 2017, was amended to commence between Oct. 1, 2017 and Dec. 31, 2017. The day rate under this contract did not change.

Owen Kratz, president and CEO of Helix, stated: “We are glad to finalize this process in a manner that makes sense for both companies, and look forward to a long and productive working relationship.”

06/03/2016

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