Helix Energy Solutions Group received new three-year charter and service contracts from Petrobras for the intervention vessels Siem Helix 1 and Siem Helix 2 off the coast of Brazil.

In total, the contracts have an estimated value of $786 million, with additional three-year options granted for each contract, according to an August 27 press release.

“These contracts reinforce our energy transition business model and enable customers to optimize production from their existing assets,” said Daniel Stuart, Vice President of Commercial at Helix.

Siem Helix 1 and Siem Helix 2 are capable of performing subsea services such as production enhancement, well closure, subsea installation, offshore crane and ROV operations, offshore construction and emergency response, the press release said.

Siem Helix 1 was already in operation for Petrobras from April 2017 to July 2021 and carried out 74 drilling interventions in the Santos and Campos basins.

Since 2017, Siem Helix 2 has been conducting riser-based well intervention activities for Petrobras in the Santos and Campos basins and has completed more than 100 well interventions to date, the press release said.

“We have built a long and productive relationship with Petrobras over the past seven years,” added Stuart. “During that time, we have consistently provided safe and cost-effective well intervention services to the Brazilian market.”