US-listed Helix Energy has enjoyed a 43% rise in revenue along with a sharp boost in plug-and-abandonment (P&A) work in the North Sea.

Looming decommissioning activity, including P&A work, has been flagged up for years as a potential plus for shipowners but a surge in demand kept failing to materialise, with oil prices either too low or too high. 

Well-intervention specialist Helix says clients are now opting for more P&A activity, as can be seen clearly in the company’s North Sea utilisation figure of 100%.