Helix Enters into Frame Agreement with StatoilHydro for Trenching Services.

HOUSTON -- Helix Energy Solutions (NYSE:HLX) announced today that its subsidiary Canyon Offshore has signed a Frame Agreement with StatoilHydro for provision of trenching services offshore Norway. The agreement is for 3 years with two 2-year options to extend the agreement.

Canyon Offshore will perform trenching projects from its fleet of trenching systems including the T750 Jet Trencher and the i-trencher, Canyon's new-build heavy soils trenching machine. The services will be conducted from one of Canyon Offshore's long-term chartered modern DPII class vessels, including the Olympic Triton, Northern Canyon and the Island Pioneer.

Bart Heijermans, Helix's Executive Vice President and Chief Operating Officer, commented, "Entering into the Frame Agreement directly with StatoilHydro as the customer is a significant first for Canyon Offshore, and will enhance Canyon Offshore's position as a leader in the subsea trenching market."

Helix Energy Solutions, headquartered in Houston, Texas, is an international offshore energy company that provides development solutions and other key life of field services to the open energy market as well as to our own oil and gas business unit.

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