Mon, Sep 13, 2010
Contracts Worth In Excess Of $1.3 Billion In Revenue
Bristow Group said Thursday that it has secured new contracts
for work in the UK North Sea, Norway and Malaysia potentially worth
in excess of $1.3 billion in revenue over the next ten years.
William E. Chiles, President and Chief Executive Officer, said "We
are pleased to continue our recent successes in bringing in new
business by adding these long-term contracts that strengthen our
competitive position with key customers in three of our targeted
growth areas."
Sikorsky S-92 File Photo
An existing contract with the Integrated Aviation Consortium
(IAC) in UK North Sea was extended through direct negotiation for a
five-year term with the option to extend for an additional five
years and includes the operation of six existing Sikorsky S-92
large helicopters that were initially put into service in 2008. In
addition to the helicopter services, Bristow will continue to
provide airport management and fixed wing services as part of this
contract.
The ten-year contract in Norway with Statoil reinforces our
long-term commitment to the Norwegian market. The work will utilize
three new Sikorsky S-92 large helicopters plus an additional
back-up helicopter operating from our Bergen base beginning in
January 2012. This contract is in addition to operations Bristow
currently conducts for Statoil in Norway from bases in Stavanger
and Hammerfest. This will increase the total Bristow helicopters in
Norway to 15.
Bristow Group EC225 File Photo
An award in Malaysia involves an initial minimum two year lease
of three new Eurocopter EC225 large helicopters to a local operator
together with the provision of technical management services on a
ten year plus five year option agreement commencing in mid
2011.
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