Helix Energy Solutions Group is selling its 50% stake in Marco Polo platform owner Deepwater Gateway to a subsidiary of Genesis Energy for US$25 million.
Anthony Tripodo, Executive Vice President and CFO of Helix, said: “The sale of the Deepwater Gateway interest is in line with Helix’s strategy of focusing on its core businesses, well intervention and robotics.”
Marco Polo is a tension leg platform, owned by Deepwater Gateway, a joint venture set up in 2002 between Cal Dive, as it was then, and GulfTerra, and working on Anadarko’s first deepwater development project, the Marco Polo field, in Green Canyon Block 608 about 240 km offshore Louisiana in the Gulf of Mexico. It came on stream in 2004.