Helix and BP agree to amend multi-year Q5000 contract

Helix Energy Solutions Group, Inc. has announced that it has entered into an agreement with BP Exploration & Production to amend their existing 2013 agreement for the Q5000 to provide well intervention services in the U.S. Gulf of Mexico to defer the commencement of the work, previously scheduled to begin in the third quarter of 2015, to 1 April 2016. The amendment also contains certain other agreed upon modifications to the original agreement, and gives Helix greater flexibility to market the vessel to other potential customers, including prior to the commencement of the work for BP. The overall contract period remains at five years (with options to renew) with a minimum of 270 days annually.

“We are glad that we were able to work together with an important customer and reach a mutually agreeable solution to address the current industry environment. Our expectations are that the vessel will be completed over the next two months, then set sail for the Gulf of Mexico to get ready for BP or perhaps other customers prior to going to BP,” said Helix President and Chief Executive Officer Owen Kratz.

Adapted from press release by Joe Green

Published on 27/02/2015

Get your FREE Oilfield Technology magazine »

Get your FREE trial of Hydrocarbon Engineering magazine »

Get your FREE trial of World Pipelines magazine »


Related articles

Helix, OneSubsea and Schlumberger execute alliance agreement

Helix, OneSubsea and Schlumberger announced today the execution of the definitive agreements for the companies’ non-incorporated alliance.

BP announces world’s first robotic coreflooding system

BP is now operating the world’s first robotic coreflooding system, a recent addition to the company’s EOR research facilities.

Helix announces long-term ROV services contract with McDermott

Helix has reached an agreement with a subsidiary of McDermott to provide ROV services and equipment for McDermott’s fleet of subsea construction and pipelay support vessels.

BP agrees deal with Rosneft

BP has agreed to sell its shareholdings in TNK-BP and will also acquire an additional shareholding in Rosneft.

Recommend magazines

  Oilfield Technology