Mayer Brown advises Helix on contracts with Petrobras for two well intervention vessels
14 February 2014
London - Leading global law firm Mayer Brown has advised Helix Energy Solutions Group, Inc on agreements with Siem Offshore AS and Petrobras to provide two new build monohull well intervention vessels to be employed offshore Brazil. The vessels will be built at the Flensburger shipyard in Germany for Siem and time chartered to Helix for an initial period of seven years.
Helix's aggregate investment in the topside equipment for both vessels is expected to be approximately US$260 million. The initial term of the contract with Petrobras is for four years with options to extend. The first vessel is expected to be in-service for Petrobras mid-2016, with the second vessel to follow later that same year.
Stuart McAlpine, Banking & Finance partner at Mayer Brown, said: "This deal is highly significant for Helix, consolidating its position as the leading provider of well intervention services to the offshore oil and gas industry. We were delighted to bring together our specialists in Rio de Janeiro and London to assist Helix in closing the transaction.”
The Mayer Brown team was led by Corporate & Securities partner Leonardo Costa (Rio de Janeiro) and Banking and Finance partner Stuart McAlpine (London). The team also included Antitrust & Competition partner Kiran Desai (Brussels), Corporate & Securities associates Rayanne Marinheiro (Rio de Janeiro), Luis Montes (Sao Paulo) and Banking & Finance associate Tom Jackson (London).