HOUSTON, Aug. 20 /PRNewswire-FirstCall/ -- Helix Energy Solutions
(NYSE: HLX) announced today that it has been awarded a contract by BP Norge
for the lay of a gas export pipeline for the Skarv Idun development
project, in the Norwegian Sea. This 80 kilometer, 26-inch coated pipeline
will be installed by the pipe lay vessel Caesar in the summer of 2009.
Bart Heijermans, Executive Vice President and Chief Operating Officer,
commented, "We are delighted to add this important international contract
to the burgeoning backlog we announced with our Q2 financial results.
Visibility of deepwater construction work is excellent and this award
further demonstrates our ability to secure work in each of our target
markets, Gulf of Mexico, North Sea UK, offshore Norway and the Far East.
Our pipelay fleet of the Intrepid, Express and Caesar is the right size and
has the balance of complimentary capabilities to add value for both
external customers and, our internal customer, Energy Resource Technology
in this very exciting period for deepwater activity."
Helix Energy Solutions, headquartered in Houston, Texas, is an
international offshore energy company that provides development solutions
and other key life of field services to the open energy market as well as
to our own oil and gas business unit. That business unit is a prospect
generation, exploration, development and production company. Employing our
own key services and methodologies, we seek to lower finding and
development costs, relative to industry norms.
This press release contains forward-looking statements that involve
risks, uncertainties and assumptions that could cause our results to differ
materially from those expressed or implied by such forward-looking
statements. All statements, other than statements of historical fact, are
statements that could be deemed "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, including,
without limitation, any projections of revenue, gross margin, expenses,
earnings or losses from operations, or other financial items; future
production volumes, results of exploration, exploitation, development,
acquisition and operations expenditures, and prospective reserve levels of
property or wells; any statements of the plans, strategies and objectives
of management for future operations; any statement concerning developments,
performance or industry rankings, any statements regarding future economic
conditions or performance; any statements of expectation or belief; and any
statements of assumptions underlying any of the foregoing. The risks,
uncertainties and assumptions referred to above include the performance of
contracts by suppliers, customers and partners; employee management issues;
complexities of global political and economic developments, geologic risks
and other risks described from time to time in our reports filed with the
Securities and Exchange Commission ("SEC"), including the Company's Annual
Report on Form 10-K for the year ending December 31, 2006. We assume no
obligation and do not intend to update these forward-looking statements.
SOURCE Helix Energy Solutions
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Related links:
http://www.HelixESG.com
CONTACT:
Wade Pursell, Chief Financial Officer of
Helix Energy Solutions, +1-281-618-0400, fax, +1-281-618-0505
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