Helix Energy Solutions on Track to Complete Decom Work for Cooper Energy

Houston-based offshore services firm Helix Energy Solutions is wrapping up the multi-well decommissioning operation for Cooper Energy on the Basker, Manta and Gummy (BMG) fields in the Gippsland Basin, off Australia.

According to Cooper Energy, Helix Energy Solutions’ Helix Q7000 vessel light well intervention offshore rig is scheduled to complete the BWG wells decommissioning program this week.

A future stage of work will be required to remove seafloor production equipment, which can be conducted with a workboat and is a significantly smaller scope than the wells decommissioning program, Cooper Energy said.

Helix Energy Solutions’ Helix Q7000 can perform through-riser well intervention and decommissioning operations in water depths ranging from 85 meters to 3,000 meters, utilizing the Helix-designed Intervention Riser System (IRS) which features a High-Angle disconnect system. The vessel was launched in 2019.

The expected final cost of the BMG wells decommissioning programme remains toward the upper end of the mid case estimate range of $158-185 million (A$240 - 280 million).

Cooper Energy added it continues to pursue its claim in the Supreme Court of Victoria against Indonesian state-owned enterprise PT Pertamina Hulu Energi (Pertamina), for Pertamina’s 10% share of the BMG decommissioning costs.

This claim includes interest on the costs to date, as well as future costs associated with the remaining scope of work. An interlocutory hearing has been scheduled in late July 2024, regarding service of the writ and statement of claim.

Pertamina, via an Australian subsidiary, participated in the BMG oil project during its production life and Cooper Energy’s claim arises with respect to Pertamina’s obligations under the withdrawal and abandonment provisions of the BMG oil project joint operating and production agreement.