Helix Energy Solutions has entered into a well intervention vessel contract with Shell Exploration & Production Company. The contract provides 180 days utilization of Helix's MSV Q4000 over a three year period with option to extend. The contract commences January 1, 2008.

Helix President and Chief Executive Officer, Martin Ferron, commented "The Q4000 has been active as a deepwater well intervention vessel in the Gulf of Mexico for several years. It is our intention to continue to serve our customers in this important market segment even after the Q4000 drilling upgrade has been completed later this year. We should be able to plan our drilling and completion activities around this and other well intervention work, thereby maintaining a high level of utilization of the Q4000 for the foreseeable future. This, in turn, has positive implications for the utilization of our deepwater construction fleet."