Source: Helix Energy Solutions
Helix Energy Solutions Group (NYSE:HLX) announced that its Floating Production Unit, the Helix Producer I (HPI), has been contracted by BP Exploration & Production Company (NYSE:BP) to assist in BP's Gulf of Mexico oil spill response operations.
For comprehensive coverage of the Deepwater Horizon incident, oil spill in the Gulf of Mexico and efforts under way to resolve them, visit PennEnergy's Oil Spill in the Gulf of Mexico special section.
The HPI will be part of BP's containment plan to capture and process oil and gas from the Macondo well and to offload such oil and gas to a tanker. The HPI is expected to support BP's efforts for a minimum of sixty days.
The HPI will join two other contracting services vessels owned by Helix, the Express and Q4000, in supporting BP on the Deepwater Horizon spill response and containment operations. The Q4000 has been providing services to BP since the beginning of May.
As a result of the HPI's involvement in the BP spill response, production from Helix ESG's Phoenix deepwater oil field will be deferred until the HPI comes off hire with BP. Helix ESG expects the financial contribution from the BP HPI contract will offset the financial impact from deferred production of the Phoenix oil field.
The Phoenix oil field, located in the Gulf of Mexico's Green Canyon Block 237, is ready to commence production upon HPI's return to the site, with all necessary U.S. Coast Guard and Minerals Management Service permits and approvals in place.