Helix Energy Solutions Group (HLX) and BP Exploration & Production have agreed to amend their existing 2013 agreement for the Q5000 to provide well intervention services in the U.S. Gulf of Mexico. The amendment will defer the commencement of work, previously scheduled to begin in the 3Q 2015, to 1 April 2016, and also contains certain other agreed upon modifications to the original agreement. The amendment 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 a minimum of 270 days annually, and an option to renew.
“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 Owen Kratz, president and CEO of HLX.
