Well Intervention Services News

Helix Energy Solutions and Hornbeck Offshore Services have agreed to combine in an all-stock transaction to create an integrated offshore services company.Under the agreement, Hornbeck shareholders will own about 55% of the combined company, while Helix shareholders will hold around 45%.The combined company will operate under the Hornbeck Offshore Services name and trade on the New York Stock Exchange under the ticker ‘HOS’.The companies said the combination will bring together fleets of specialty vessels and capabilities including subsea robotics and well intervention services…

Norwegian offshore supply vessel owner DOF Group has secured contract extensions for two of its subsea vessels, both operating in Guyana.The contract extensions are for Skandi Nomad and Skandi Constructor, which will remain on duty for one more year each.Following the extensions, Skandi Nomad is contracted until the fourth quarter of 2026 and Skandi Constructor until the second quarter of 2027.Skandi Nomad is a 2010-built vessel, designed for subsea operations across a wide range of water depths and environmental conditions.Skandi Constructor is a 2009-built vessel…

Equinor has exercised a three-year option for AKOFS Offshore’s well intervention vessel AKOFS Seafarer.The option period is estimated to start in late fourth quarter of 2025, after the vessel has completed its customary Special Periodic Survey (SPS) and in direct continuation of the current contract period.The option period has a total value of about $300 million and means that the vessel will perform light well intervention services (LWI) for Equinor up to late fourth quarter of 2028.Classified as well intervention unit in compliance with the IMO-MODU code…

Norwegian company Akastor has signed an agreement for the transfer of all of Mitsui’s interests in AKOFS Offshore, a provider of vessel-based subsea well construction and intervention services, for $22.5 million.The agreement is entered into on an ‘as is’ basis and includes all of Mitsui’s interests in AKOFS Offshore, which cover both equity and shareholder loans.As part of the transaction, Akastor also assumes Mitsui’s exposure under the guarantee structure related to the financing of AKOFS Santos.Following completion of the transaction…

Oceaneering International announced its Offshore Projects Group (OPG) segment has been awarded multiple contractual agreements for vessel services with global energy companies, covering operations in the Gulf of Mexico.The scope of work under the first contract includes a mix of basic and heavy inspection, maintenance, and repair (IMR) services, including vessel-based inspections, maintenance of smaller equipment, and replacement of jumpers. The contract also encompasses intervention services and installation work, which are currently scheduled for the second half of 2024.

Equinor, on behalf of the partners, is exercising two options to extend contracts with Archer AS, KCA Deutag Drilling Norway AS and Odfjell Operations AS for a total of four years.The options for drilling services on fixed installations on the Norwegian continental shelf provide jobs for 2,000 people per year and have an estimated value of NOK 18.4 billion.The contracts were signed in 2018 with three option periods of two years. The first two-year option was exercised in 2022.

Helix Energy Solutions Group, Inc. announced on Monday that it entered into a two-year extension of its well intervention charter and services contracts with Petróleo Brasileiro S.A. (Petrobras) for the Siem Helix 2 well intervention vessel offshore Brazil. The negotiated extension is scheduled to conclude in December 2024 and directly follows Helix’s current contracts with Petrobras.The Siem Helix 2 is a purpose-built, advanced well intervention vessel capable of performing a wide range of subsea services including production enhancement, well decommissioning, subsea installation, offshore crane and remotely operated vehicle (ROV) operations, offshore construction and emergency response.

Helix Energy Solutions Group, a U.S. offshore oil, and gas well services company, has signed a multi-year deal with Shell to provide Well Intervention services in the Gulf of Mexico.Under the contract Helix will provide either the Q4000 or Q5000 riser-based semi-submersible well intervention vessel, a 10k or 15k Intervention Riser System (IRS), remotely operated vehicles, project management, and engineering services to cover operations from fully integrated well intervention to fully integrated plug and abandonment well services…

U.S.-based Helix Energy Solutions Group has secured an extension of its well intervention charter and services contracts with Brazil's Petrobras for the Siem Helix 2 well intervention vessel."The initial four-year contract for the Siem Helix 2 has been extended by one year at a reduced rate reflective of the current market. The Siem Helix 2 is now set to remain under contract with Petrobras until mid-December 2022 performing riser-based well intervention activities," Helix Energy Solutions said. The company did not provide details on the value of the contract.The Siem Helix 2 is a 2016-built well intervention vessel capable of performing a wide range of subsea services including production enhancement…

Oceaneering International announced Monday that it has taken delivery of a newbuild subsea construction support vessel, Ocean Evolution, built by BAE Systems in the US.The US-flagged, Jones Act-compliant multi-service vessel (MSV) has completed sea trials and received all necessary ABS and U.S. Coast Guard certifications and is currently in Port Fourchon, La., completing final outfitting and preparing for project work scheduled to begin in June.Oceaneering said the vessel is designed…

Saudi Aramco has awarded major stimulation and well-testing contract to Baker Hughes, a GE company (BHGE). BHGE will deliver a comprehensive well services solution including all cased-hole wireline logging, perforation, well testing, stimulation, fracturing and associated intervention services.By integrating discrete products, services and capabilities into a single offering, BHGE will help Saudi Aramco reduce time, costs and complexity while increasing efficiency.The three-year contract includes the option of two one-year extensions and the project is expected to commence in December 2018.The work is expected to create more than 200 new engineering…

The shipowner Teekay and GTT have recently signed a Technical Service Agreement (TSA) extended with new advisory services. This agreement applies to 23 vessels equipped with the GTT technologies Mark III and NO96. In addition to the assistance and intervention services already included in the standard GTT TSA, Teekay will benefit from the advisory and optimization service HEARS (Hotline Emergency Assistance & Response Service). “Teekay holds one of the major LNG fleets in the world which will reach about 40 vessels by 2019. To assist our clients in the efficient operations of their LNGCs throughout the years, we provide them solutions to fit their new requirements…

Fugro’s dynamically positioned multi-purpose drilling, well intervention and geotechnical vessel, Fugro Synergy, will showcase her capabilities on a multi well intervention campaign which recently started in the Gulf of Mexico. The campaign involves utilization of a top tensioned 6 5/8” riser and coiled tubing, and fieldwork for the contract is being undertaken jointly by the Cross Group Inc and Fugro, to employ the MODU (mobile offshore drilling unit). The vessel was designed and built specifically for well intervention services…

DeepOcean Ghana Limited, a Ghanaian company with 51% Ghanaian owned share structure, has been awarded a contract to provide the services of a multipurpose construction vessel (MPV) to Tullow Ghana Limited. The scope of work for the contract is inspection, survey and subsea construction on the Tullow operated deepwater Jubilee and TEN Fields offshore Ghana. The contract includes subsea tree and jumper installations in approximately 1,100 - 2,000 m water depth. Following the signing of the contract…

Aker Solutions' subsidiary Aker Oilfield Services (AKOFS) has won a contract worth USD 465 million over five years from Petrobras to provide subsea intervention services offshore Brazil from the Aker Wayfarer vessel. The contract will start within the fourth quarter of 2016 and has a five-year option extension. AKOFS will at the end of September become part of Akastor, an oilfield services investment company that will be one of two companies formed as part of the announced separation of Aker Solutions. The Aker Wayfarer vessel will be outfitted at a yard in Norway to become a deepwater subsea equipment support vessel (SESV). It will have a fibre-rope deployment system…

Aker Solutions' subsidiary Aker Oilfield Services (AKOFS) says it has won a contract worth US$465-million over five years from Petrobras to provide subsea intervention services offshore Brazil from the Aker Wayfarer vessel. The contract will start within the fourth quarter of 2016 and has a five-year option extension. AKOFS will at the end of September become part of Akastor, an oilfield services investment company that will be one of two companies formed as part of the announced separation of Aker Solutions. The Aker Wayfarer vessel will be outfitted at a yard in Norway to become a deepwater subsea equipment support vessel (SESV). It will have a fibre-rope deployment system…

FTO Services announced today that construction of its new deepwater well intervention services vessel has been completed. The naming ceremony for the new vessel, Island Performer, was held in Ulsteinvik, Norway on June 27. During the event, about 200 guests including executives from FTO Services, Edison Chouest Offshore and FMC Technologies sailed on a five hour maiden voyage to celebrate the naming of the vessel. In the fourth quarter of 2014, FTO Services will begin a 5 year lease of Island Performer from vessel owner, Island Offshore.

Cal Dive International says it has sold its U.S. Gulf of Mexico shallow water surface diving fleet to a privately held company for cash of US$18.5-million and a 19.9% minority interest in the entity acquiring the assets. Cal Dive explains that the assets sold are comprised of eight surface diving vessels and miscellaneous inventory and equipment and it anticipates recording a gain during the second quarter as a result of the transaction. Net proceeds from the sale were used to repay a portion of the Cal Dive’s revolving credit facility. The Company also entered into a multi-year alliance agreement with the buyer under which the buyer will have the exclusive right to provide any surface diving services required by Cal Dive in the U.S.

Houston's Cal Dive International, Inc. has  reported a first quarter 2014 loss of $13.1 million, or $0.14 per diluted share, on revenues of $119.1 million. This compares to a loss of $17.7 million, or $0.19 per diluted share, on revenues of $80.9 million for the first quarter 2013. For the first quarter 2014, the Company reported EBITDA of positive $2.0 million compared to negative $6.5 million for the first quarter 2013. Commenting on the results, Cal Dive’s Chairman, President and Chief Executive Officer, Quinn Hébert, stated, “The improvement in our first quarter results reflects our increased activity levels in Mexico. While we did experience harsher weather conditions during the month of March than anticipated…

The accommodation jackup rig with Plug & Abandonment (P&A) features will be based on Keppel’s KFELS J Class design which is suited for the harsh environment of the Norwegian North Sea. Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has signed an engineering services agreement with Workfox B.V, a subsidiary of the Seafox Group (Seafox), to embark on an engineering study of a purpose-built accommodation jackup rig with well intervention and P&A features.

Technip inform they have been awarded by Statoil a substantial contract for future intervention services on the Asgard Subsea Compression Stations situated on the Norwegian contenental shelf. Ranking among the largest developments on the Norwegian continental shelf, the Asgard field lies on the Halten Bank in the Norwegian Sea, about 200 kilometers off Norway. The Asgard subsea compression facility is the world’s first project of its kind, involving placement of compressors closer to the well in order to boost recovery rate of oil at the reservoir.

Siem Offshore Inc. say they have signed agreements with Helix Energy Solutions Group, Inc. to provide 2 well-intervention vessels which will be owned by Siem Offshore and chartered by Helix for an initial period of 7 years, with options that can extend the charter periods up to 22 years. The two vessels will be constructed at the Flensburger shipyard in Germany for Siem Offshore, and will be based on a design developed by Salt Ship Design. They will have an overall length of 158 meters…

Sales were NOK 11.4 billion in the fourth quarter of 2013, up from NOK 11.2 in the fourth quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1.06 billion in the quarter, compared with NOK 1.09 billion in the year-earlier period. The prior-year figure includes a gain of NOK 160 million from the sale of real estate. The EBITDA margin was 9.3 percent in the quarter versus 9.7 percent a year earlier. The prior-year margin was 8.4 percent excluding the sales gain.