Houston-based offshore energy services player Helix Energy Solutions has landed a significant decommissioning contract in the US Gulf of Mexico set to commence in mid-2023.
The company’s subsidiary Helix Alliance will execute the contracts that cover the plug and abandonment of 39 wells, 15 pipelines and seven structures.
The Louisiana-based unit will utilise the EPIC Hedron heavy lift derrick barge for structure removals, liftboats for plug and abandonment activities, the Triton Explorer dive support vessel for pipeline abandonments, and multiple OSVs and several other assets throughout the campaign.
North America’s decommissioning market is forecast at nearly $3bn expenditures between 2022 and 2025.”This award demonstrates Helix’s position as the preeminent company for full-field decommissioning in the Gulf of Mexico shelf, along with our other services supporting the full life cycle of offshore fields, following the expansion of our industry-leading decommissioning services with our acquisition of Alliance last year,” said Owen Kratz, Helix’s president and CEO.
Who is paying for the decommissioning?