Helix & Talos Establish Agreement for Decommissioning in US GoM

Source: www.gulfoilandgas.com 2/29/2024, Location: North America

Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) is pleased to announce a five-year joint framework agreement with Talos Energy Inc. (“Talos”) (NYSE: TALO) in which Talos has agreed to provide Helix the first right of refusal regarding specific annual work scopes for Talos’s decommissioning requirements in the U.S. Gulf of Mexico. The agreement includes a base pricing structure and processes for determining and scheduling specific projects Talos requires. Work is expected to commence in the second quarter of 2024.

The projected scopes of work include Talos’s normal course abandonment of offshore wells, pipelines and platforms, primarily on the shelf. Helix’s Louisiana-based shallow water abandonment group, Helix Alliance, intends to utilize derrick barges for structure removals, liftboats for plug and abandonment activities, and dive support vessels (“DSVs”) for pipeline abandonments, plus multiple offshore supply vessels (“OSVs”) and several other assets throughout the campaign.

Owen Kratz, Helix’s President and Chief Executive Officer, stated, “We are excited to have been awarded this significant framework agreement for well and structure removal and decommissioning. Helix and Talos have worked together on field production, well intervention and decommissioning in the deepwater arena for many years, and this framework expands the relationship onto the shelf, further demonstrating Helix’s position as the preeminent company for full-field decommissioning in the Gulf of Mexico.”


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