Siem Offshore, the Oslo-listed offshore vessel owner, has entered into a letter of intent (LOI) with Helix Energy Solutions Group, indicating a potential long-term extension of charter contracts for the well intervention vessels Siem Helix 1 and Siem Helix 2. The extension comes with improved day rates, although specific financial details were not disclosed.

The commencement dates for the new contracts are set for January 1, 2025, and January 1, 2026, respectively, each spanning a duration of six years. Siem Helix 1 and Siem Helix 2, both constructed in 2016, boast dimensions of 158 meters in length, 31 meters in beam, and an accommodation capacity for 150 individuals.

These well intervention vessels are equipped to perform a diverse range of subsea services, encompassing activities such as production enhancement, well decommissioning, subsea installation work, offshore crane and remotely operated vehicle (ROV) operations, offshore construction work, and emergency response capabilities.

The agreement signifies a strategic move for Siem Offshore, securing an extended partnership with Helix Energy Solutions Group under improved terms. The vessels' versatile capabilities make them valuable assets for various subsea operations, contributing to the overall efficiency and effectiveness of offshore activities.