HOUSTON - Helix Energy (NYSE:HLX) Solutions Group, Inc. (NYSE: HLX) has announced a series of contract extensions, signaling a positive response to current market demands. The company secured an additional 12-month extension of its decommissioning contract with Trident Energy do Brasil Ltda, slated to commence in the fourth quarter of 2024. This extension is in direct continuation of the existing contract, which began in late 2022 in Brazil's Campos Basin.
Utilizing the Siem Helix 1 riser-based well intervention vessel and a 10K Intervention Riser System, Helix is providing fully integrated plug and abandonment well services in collaboration with its Subsea Services Alliance partner, SLB. The company also offers project management and engineering services.
In addition to the Trident Energy contract, Helix and Siem Offshore have agreed on six-year charter extensions for the Siem Helix 1 and Siem Helix 2 vessels, with the former's term now running through December 2030 and the latter through December 2031. These vessels are equipped to perform a broad spectrum of subsea services, ranging from production enhancement and well decommissioning to emergency response operations.
Moreover, the contract for the Helix Producer I (HPI), a floating production unit operating since 2016 at Green Canyon Block 237, has been extended by a year to June 1, 2025. The HPI is a dynamically positioned (DP2) vessel designed for hydrocarbon production and is capable of exporting to shore via pipeline or tanker.
Scotty Sparks, Executive Vice President and Chief Operating Officer of Helix, expressed satisfaction with the successful execution of these contract extensions, attributing them to improved market conditions and a rise in demand for the company's assets and services.
Helix Energy Solutions Group, Inc., based in Houston, Texas, provides specialized services to the offshore energy industry, focusing on well intervention, robotics, and full field decommissioning operations. These services support the global energy transition by enhancing the production of existing reserves and aiding in the decommissioning of end-of-life oil and gas fields.
This news is based on a press release statement from Helix Energy Solutions Group, Inc.
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