Helix Energy Solutions extends Siem Helix 2 contract with Petrobras


HOUSTON – (COMMERCIAL THREAD) – Helix Energy Solutions Group, Inc. (NYSE: HLX) is pleased to announce that it has entered into an extension of its well intervention charter and service contracts for the Siem Helix 2 off Brazil with Petróleo Brasileiro SA (Petrobras).

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

Scotty Sparks, Executive Vice President and Chief Operating Officer of Helix, said: “Following our recent accommodation and support contract for the sister ship Siem Helix 1 in Ghana for another client, we are happy to finalize this process and look forward to continuing a long and productive working relationship with Petrobras. the Siem Helix 2 has always provided state-of-the-art well intervention services to Petrobras. This expansion demonstrates Helix’s ability to continuously deliver innovative solutions to meet the needs of our customers, backed by our experience and proven track record.

About Helix Energy Solutions

Helix Energy Solutions Group, Inc. is an international offshore energy services company providing specialist services to the offshore energy industry, with a focus on well servicing and robotic operations. For more information about Helix, please visit our website at www.HelixESG.com.

Forward-looking statements

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, all statements regarding protocols and plans, works ongoing, the spot market, spending and cost reduction plans and the ability to manage change; strategy; any statements regarding visibility and future use; any projection of financial items; any statements regarding future operating expenses; any statements regarding plans, strategies and objectives for future operations; any statement regarding the ability to enter into, renew and / or perform commercial contracts; any statement regarding economic conditions or future performance; any statement of expectation or belief; and any statement of hypothesis underlying any of the above. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from forward-looking statements, including, but not limited to, results and effects of the COVID-19 pandemic. and the actions of governments, customers, suppliers and partners in this regard; market conditions; demand for our services; execution of contracts by suppliers, customers and partners; actions of government and regulatory authorities, including regulatory initiatives of the current US administration; operational risks and delays, which include delays in delivery, charter or customer acceptance of assets or the conditions for their acceptance; the ultimate capacity to realize the current backlog; employee management issues; complexities of global political and economic developments; geological hazards; oil and gas price volatility and other risks described from time to time in reports filed with the Securities and Exchange Commission (“SEC”), including the most recent annual report filed by Helix on Form 10-K and in other documents filed with the SEC, which are available free of charge on the SEC’s website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only on their respective dates, except as required by securities laws.

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