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    Helix Receives LOI for project offshore Australia

    Projects and Operations // October 15, 2007

    Helix Energy Solutions has announced that it has received a Letter of Intent (LOI) for the installation of the subsea infrastructure for the VIC/P44 Stage 2 Development project in the Otway Basin offshore Australia.

    Participants in the VIC/P44 permit are Santos Limited (Operator) 50 per cent, Peedamullah Petroleum Pty Ltd (Australian Worldwide Exploration) 25 per cent and Mitsui E&P Australia Pty Ltd(25 per cent).

    The scope of work under the LOI consists of: preparation and welding of a 22km, 12in gas pipeline at a designated spoolbase; installation of the pipeline together with the electro-hydraulic control umbilical, flowline jumpers and control flying leads; and pre-commissioning and commissioning of the system.

    The value of the contract is approximately US$80 million and the work is scheduled to commence in the fourth quarter of 2008 using Helix's MSV Express, after completing her obligations in India under the Reliance Industries Ltd KG D6 project.

    The expected duration of the work is four and a half months, including mobilization and demobilization to the Otway Basin from and to India.


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