Helix Energy Solutions Group Inc. (NYSE: HLX) has entered into an agreement with BP Exploration & Production to amend their existing 2013 agreement for the Q5000 in the U.S. Gulf of Mexico (GoM), the company said in a Feb. 26 release.
The Q5000 well intervention semisubmersible is a next-generation design that will provide well intervention services in the GoM.
The amendment will defer the commencement of the work, previously scheduled to begin in the third quarter of 2015, to April 1, 2016, the release said.
The amendment also contains certain other agreed upon modifications to the original agreement, and gives Helix greater flexibility to market the vessel to other potential customers, including prior to the commencement of the work for BP.
The overall contract period remains at five years (with options to renew) with a minimum of 270 days annually.
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