Siem’s well intervention duo gets improved day rates with Helix

Norwegian shipping company Siem Offshore has signed a letter of intent (LOI) with Helix Energy Solutions for two well intervention vessels.

Siem Offshore reported it had signed an LOI with Helix Energy Solutions for a possible long-term extension of charter contracts for Siem Helix 1 and Siem Helix 2.

The Norwegian company noted that the extensions are at improved day rates. 

The commencement date for the new contracts will be January 1, 2025, and January 1, 2026, with a duration of six years each.

Siem Helix 1 and Siem Helix 2 are described as purpose-designed, advanced well intervention vessels capable of completing a wide range of subsea projects, including well intervention, well decommissioning, top hole drilling, subsea installation work, offshore crane and ROV operations, offshore construction work and emergency response capabilities.

Both vessels have a length of 158 meters, a beam of 31 meters and an accommodation capacity for 150 people.