Helix finalises contract negotiations with Petrobras

Helix Energy Solutions Group Inc. has completed its contract renegotiations with Petróleo Brasileiro S.A. Helix 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 the Siem Helix 1, initially scheduled to begin July 2016, was amended to commence between July 2016 and October 2016, and the day rate under the contract has been reduced to a level acceptable to both parties. The contract for the Siem Helix 2, originally scheduled to begin no later than January 2017, was amended to commence between October 2017 and December 2017. The day rate under this contract was not changed.

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

Edited from press release by Angharad Lock

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/03062016/helix-finalises-contract-negotiations-with-petrobras-678/