Helix Energy Solutions Group, Inc. announced Thursday that it has entered into a five-year contract with BP to provide well intervention services to BP in the US Gulf of Mexico with Helix's deepwater well intervention semisubmersible vessel, the Q5000, currently being constructed in Singapore. The contract is for a minimum 270 days each year and is expected to commence between April and August 2015 following the delivery of the vessel from the shipyard. The contract also includes a first right of refusal for additional days each year and an option to extend for two successive one-year terms.
"We appreciate the confidence BP has shown in our Company's well intervention services, and look forward to this integral step in further executing our business strategy," said Helix President and Chief Executive Officer Owen Kratz.
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