Helix Awarded Significant Pipelay Contract Offshore Norway
Helix Energy Solutions (NYSE: HLX) has been awarded a contract by BP Norge for the lay of a gas export pipeline for the Skarv Idun development project, in the Norwegian Sea. This 80 kilometer, 26-inch coated pipeline will be installed by the pipe lay vessel Caesar in the summer of 2009.
Bart Heijermans, Executive Vice President and Chief Operating Officer, commented, "We are delighted to add this important international contract to the burgeoning backlog we announced with our Q2 financial results. Visibility of deepwater construction work is excellent and this award further demonstrates our ability to secure work in each of our target markets, Gulf of Mexico, North Sea UK, offshore Norway and the Far East. Our pipelay fleet of the Intrepid, Express and Caesar is the right size and has the balance of complimentary capabilities to add value for both external customers and, our internal customer, Energy Resource Technology in this very exciting period for deepwater activity."
Helix Energy Solutions, headquartered in Houston, Texas, is an international offshore energy company that provides development solutions and other key life of field services to the open energy market as well as to our own oil and gas business unit. That business unit is a prospect generation, exploration, development and production company. Employing our own key services and methodologies, we seek to lower finding and development costs, relative to industry norms.
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