Helix Awarded New Long-Term Well Intervention Contracts with Petrobras for Siem Helix 1 and Siem Helix 2

Helix Energy Solutions Group, Inc. (NYSE: HLX) is pleased to announce new three-year vessel charter and service contracts with Petróleo Brasileiro S.A. (“Petrobras”) for the riser-based well intervention vessels Siem Helix 1 and Siem Helix 2 working offshore Brazil. The new three-year contracts are valued in aggregate at an estimated $786 million, in accordance with Petrobras’ estimated value. Each contract includes an additional three years of options. The contracts were entered into following a competitive tender process.

The Siem Helix 2, since 2017, has been performing riser-based well intervention activities for Petrobras in the Santos and Campos Basins, and to date has completed more than 100 well interventions.

The Siem Helix 1 previously worked for Petrobras from April 2017 – July 2021 completing 74 well interventions in the Santos and Campos Basins.

Daniel Stuart, Helix’s Vice President—Commercial, stated, “We have built a long and productive working relationship with Petrobras for the last seven years. During this time, we have consistently delivered safe and cost-effective well intervention services to the Brazilian market. These new three-year contracts underscore Helix's commitment to innovation, tailored solutions, and leveraging our extensive global well intervention expertise. These contracts reaffirm our Energy Transition business model, empowering clients to optimize production from their existing assets.”

The Siem Helix 1 and Siem Helix 2 are purpose-built, advanced well intervention vessels capable of performing a wide range of subsea services including production enhancement, well decommissioning, subsea installation, offshore crane and Remotely Operated Vehicle operations, offshore construction, and emergency response.

About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics, and decommissioning operations. Our services are key in supporting a global energy transition by maximizing production of existing oil and gas reserves, decommissioning end-of-life oil and gas fields and supporting renewable energy developments. For more information about Helix, please visit our website at www.HelixESG.com.

Forward-Looking Statements

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