Topic:        Helix Energy Solutions Group (Helix) is developing a disconnectable, dynamically-positioned (DP) ship-shaped floating production unit called “Helix Producer I” for use on the ERT-Helix Phoenix development in the Gulf of Mexico in the second half of 2008. The Phoenix development is the new name of the prior Typhoon development at GC 237 which ERT-Helix acquired in August 2006. Helix brings a unique perspective to this type of development with its involvement in multiple deepwater floating offshore production units, its position as a GOM operator (through subsidiary ERT), and its extensive background in ships with both the Cal Dive and deepwater Helix contracting fleet.

The Phoenix development will incorporate a disconnectable riser system which when combined with the DP ship-shaped floating production unit, allows the production system to move off the location under its own power. This relocation ability has two primary advantages which Helix is exploiting. First, is the ability to leave the location when a tropical storm approaches the site, thus allowing Helix to avoid the damage potential exemplified by the late Typhoon TLP.   The second advantage is the opportunity to relocate the vessel easily on a future development when the Phoenix field is depleted, providing a level of flexibility to deepwater floating production units not yet seen in the Gulf of Mexico.