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USA: Helix Sells Its Three Pipelay Vessels

Helix Energy Solutions Group, Inc. has agreed to sell its three pipelay vessels, the Caesar, Express, Intrepid and related equipment in separate transactions for total cash consideration of $252,750,000.

On October 15, 2012, Helix entered into an agreement to sell the Caesar, Express and related equipment to Coastal Trade Limited for a total of $238,250,000. The sale of these assets is expected to close in two stages as each vessel completes its existing contractual backlog. The Express closing is expected to occur in February 2013 and the Caesar closing is expected to occur in July 2013. Helix has received a $50 million deposit in connection with this transaction which is only refundable in limited circumstances. The closing of this transaction is subject to customary closing conditions.

In a separate transaction, on September 26, 2012 Helix sold its pipelay vessel, Intrepid, to Stabbert Maritime Holdings, LLC for $14,500,000.

Helix will retain its Ingleside, Texas spoolbase facility and provide pipelay spooling services to the market.

Owen Kratz, President and Chief Executive Officer of Helix, stated, “As we previously discussed, our strategy is to aggressively invest and grow our Well Intervention and Robotics businesses. We see the divestiture of our pipelay fleet as an important step in accelerating our corporate strategy.”

Subsea World News – USA: Helix Sells Its Three Pipelay Vessels.

PHOTOS: Express installing subsea manifolds « Helix Currents

Photos courtesy of Helix Subsea Construction Field Engineers Robert Bailey & Matt Gonzales.

Taken on board Helix ESG’s pipelay vessel, Express, these photos show two Pipeline End Terminal manifolds (PLETS) as they are hoisted off an adjacent supply boat and lowered down to the seabed.

A PLET is used on one, or both ends of pipelines to provide connection point from the pipeline to existing subsea structures in place.  The existing structure may be a subsea tree, another PLET or a manifold and are connected by a jumper.  The PLETs and other subsea structures have upward looking connectors while the jumpers have downward looking connectors.  This configuration allows the jumpers to be installed using Remotely Operated Vehicles (ROVs).

Helix Subsea Construction, a business unit of Helix ESG, is installing this PLET as part of the overall scope of Subsea Umbilical, Riser and Flowline (SURF) work for Noble Energy at the Noa Field, offshore Israel. The field is in approximately 2,556ft of water (779m) and is being developed for natural gas.

Source: PHOTOS: Express installing subsea manifolds « Helix Currents.

Noble Energy Linking Noa and Pinnacles to Mari B Platform

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Noble Energy and Delek Group have started linking Noa and Pinnacles offshore natural gas fields to the Mari B production platform, according to the Israel’s financial newspaper Globes.

Helix ESG’s reeled pipelay vessel, Express, which in April arrived at the port city of Haifa, Israel has started SURF (Subsea Umbilicals, Risers and Flowlines) work.

According to the data on Noble Energy’s website, Noa will, once developed, provide 100 million cubic feet per day (MMcf/d) of production by September 2012.

Development of the Noa field is geared to allow for additional supplies of natural gas to the Israeli market, until the start of natural gas supplies from the Tamar project.

Source

Helix Breaks Ground on New South Texas Spoolbase Facility

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Helix Energy Solutions Group
Monday, May 12, 2008

Helix Energy Solutions Group announced that it has broken ground to initiate construction on a new spoolbase facility and service complex to support its Gulf of Mexico operations. The facility will be constructed on the La Quinta Channel in Ingleside, Texas, 15 miles east of Corpus Christi.

“Our deepwater reeled pipelay fleet consisting of the Intrepid, Express and Olympic Triton has outgrown our current spoolbase in Port Arthur. We had an imminent need to establish a larger and more accessible spoolbase and fabrication facility that also could serve our other deepwater vessels such as the Caesar and the MSV Q4000,” stated Helix Chief Operating Officer Bart Heijermans. “The new yard will provide us with an increased stalk length of one mile that significantly will reduce vessel time at the dock during spoolup. We also plan to use this facility for double jointing steel catenary risers and the fabrication of subsea structures.”

When completed in mid-2009, the 120-acre base will consist of a 200 ft by 300 ft slip with a 32 ft depth for accommodating large offshore vessels, a one-mile-long pipe stalking line, as well as a warehouse and other associated fabrication buildings.

“The primary support activity of the spoolbase will be the preparation of pipe for offshore pipelines by welding the 40′ pipe joints end-to-end in long stalks roughly a mile long each,” states Paul Byington, Helix Ingleside General Manager of Pipeline Construction. “Then, each of the mile-long stalks will be welded end-to-end while deepwater pipelay vessels reel the pipe stalks onto the onboard reels. The vessels will then transit out to sea and install the pipelines on the sea bed.”

According to Byington, the company conducted a three-year search and evaluation of available coastal properties in areas ranging from Mobile Bay, Alabama to Brownsville, Texas. “Since an area deep enough for big ships to come in was required, finding the right spot took considerable time. We looked all over the Gulf of Mexico Gulf Coast before deciding that the Ingleside area was our best choice.”

Original Article

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