Siem Offshore Secures New Contracts with Helix Energy Solutions for Well Intervention Vessels

Siem Offshore is pleased to announce a significant milestone for the Company: the signing of new agreements with Helix Energy Solutions for its Well Intervention vessels, “Siem Helix 1” and “Siem Helix 2”. These contracts, valued at a total of USD 682 million, demonstrate Siem Offshore partners’ trust in its expertise and a significant commitment to long-term success in the offshore industry.

The new contracts, effective from January 1, 2025, and January 1, 2026, respectively, replace existing agreements and ensure firm utilization for these key vessels until at least 2030. With a duration of six years for each vessel, and the option for extension for up to five years, this provides a solid foundation for future earnings and growth for Siem Offshore.

Siem Helix vessels have played a crucial role in the Well Intervention segment, and its longstanding partnership with Helix Energy Solutions is a testament to their mutual success. Since the vessels were built in 2016, the collaboration between these organizations has strengthened, and Siem Offshore’s dedication to quality and efficiency has been recognized by our clients.