As part of the deal, Helix will provide services with two new chartered monohull vessels that will be built at the Flensburger shipyard in Germany for Siem Offshore.
Helix will involve in providing topsides and manage the integration of the well intervention equipment for vessels, while Siem will be responsible for the monohull build and oversee the construction at the shipyard.
The aggregate investment in the topside equipment for both vessels is expected to be around $260m, according to Helix.
Siem, which will be the owner of vessels, will charter both the vessels and marine crew to Helix for an initial period of seven years.
With options to extend, the initial term of the contract with Petrobras is for four years, while the first vessel is expected to be in-service in mid-2016.
Helix Energy Solutions president and CEO Owen Kratz said that Brazil represents a significant opportunity for Helix, as does a relationship with Petrobras.
"This is a major step forward in the execution of our strategic goal to be the best-in-class global leader to rig alternative intervention," Kratz added.
