Siem Offshore has secured long-term contracts with Helix Energy Solutions for two of its Siem Helix well intervention vessels.
The two contracts for Siem Helix 1 and Siem Helix 2, valued at US$682mn, will come into effect from 1 January, 2025, and 1 January, 2026, respectively and will replace existing agreements to ensure firm utilisation for these vessels until at least 2030.
Each vessel will have a duration period of six years, with an optional extension period of up to five years, the contracts provide a solid foundation for future endeavors and growth for Siem Offshore. Siem Helix vessels have played a crucial role in the well intervention segment, and the longstanding partnership between Siem and Helix is a testament to the success both companies have endured.
