Helix orders well intervention semi at Jurong

Q5000SEPTEMBER 12, 2013 — Houston headquartered Helix Energy Solutions Group, Inc. (NYSE: HLX) has signed a $346 million contract with Sembcorp Marine subsidiary Jurong Shipyard in Singapore for the construction of a newbuild semisubmersible well intervention vessel.

Owen Kratz, Helix's President and Chief Executive Officer, said: "We are pleased to work with our trusted partner Jurong Shipyard on our second newbuild semisubmersible well intervention vessel, to be named Q7000. Based on strong market demand and our record of operating specialized deepwater well intervention assets, we believe that this vessel, with its enhanced features and capabilities, will be a valuable addition to our growing fleet."

Sembcorp Marine's Jurong Shipyard to Build a Second Semi-submersible Well Intervention Rig at US$346 million for Helix Energy Solutions

Scheduled for delivery in mid-2016, the semi-submersible light well intervention rig will be built based on a design jointly developed by Sembcorp Marine Technology Pte Ltd (SMTP), a fully-owned Research & Development subsidiary of Sembcorp Marine, and Helix. Featuring the latest technology, the Q7000 is an efficient purpose-designed platform with capabilities to perform a wide variety of tasks, including conventional and extended top hole drilling, subsea construction, decommissioning well intervention, coiled tubing operations and twin ROV deployment.

The Dynamic Positioning (DP) class 3 unit has the ability to operate in deepwater operations worldwide, including the North Sea and West of Africa.

Mr. William Gu, General Manager of Sembcor Marine's Offshore Division said: "We are honored that Helix has chosen to build their second semi-submersible well intervention rig with us. This repeat order is significant as it testifies as to their trust and confidence in our design and building capabilities in rigs with well intervention and subsea capabilities that are customized to meet this new growth segment of the market. We are committed to build on our partnership with Helix and to meet their stringent standards of quality, safety and reliability."

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