Business

July 11, 2012

Bristow Group announces long term contracts for 20 large helicopters

Bristow Group Inc., a leading provider of helicopter services to the offshore energy industry, announced July 11 that it has secured several major new multi-year contracts for the provision of a total of 20 large aircraft that are expected to generate in excess of $2 billion in revenue.

 

In Europe, Bristow has been particularly successful with a number of wins including:

  • Extension of an existing contract in Norway for four S-92 large helicopters that is expected to start in September 2014 for a further seven-year term with the option for an additional five-year extension,
  • New contract award for the provision of Norway search and rescue (SAR) services using three new Eurocopter EC225 helicopters that is expected to commence in September 2014 for a period of five years with the option for an additional five-year extension, and
  • New contract award for one S-92 helicopter in the UK North Sea that commenced work in July 2012 and one EC225 helicopter that is scheduled to start work in August 2012 for a minimum of two years.

 

In Australia, INPEX has awarded Bristow a ten-year contract for up to six EC225 helicopters to support drilling, development and production operations on the Ichthys Project. INPEX also has an option to add a long term SAR aircraft. This new contract is scheduled to begin in 2014 and reinforces our long term commitment to the Australian market.

William E. Chiles, President and Chief Executive Officer, said, “We are very pleased with our recent commercial successes, which extend and enhance the pricing and terms of existing contracts and add new high-value long term contracts, for both crew change and SAR services. These contracts strengthen our position with key customers in several of our targeted growth areas. Our Client Promise initiative incorporating our unique Target Zero Accidents, Zero Downtime and Zero Complaints programs is becoming a clear differentiator in our industry, and we are pleased that our clients are recognizing the added-value of this initiative.”

In Brazil, Lider has been awarded five-year contracts by Petrobras for five Sikorsky S-92 large helicopters. One of these aircraft is leased to Lider by Bristow and is scheduled to start work in August 2012, and the remaining four aircraft are scheduled to commence work by April 2013.

“These multiple new contract awards with better pricing and terms than in the past are part of the increase in demand we predicted,” said Mark Duncan, senior vice president Commercial. “Our focus on providing clients the safest, most reliable and best service has positioned us well for further profitable growth as the market continues to strengthen.”




All of this week's top headlines to your email every Friday.


 
 

 

Headlines October 24, 2014

News: U.S., South Korea delay transfer of wartime control - The U.S. and South Korea have delayed transferring wartime operational control of allied forces by taking on a “conditions-based approach” and scrapping the previously set deadline of 2015.   Business: Exclusive: Lockheed, Pentagon reach $4 billion deal for more F-35 jets - Lockheed Martin and U.S. defense...
 
 

News Briefs October 24, 2014

French moving troops toward Libyan border A top French military official says the country is moving troops toward the Libyan border within weeks and, along with U.S. intelligence, is monitoring al Qaeda arms shipments to Africa’s Sahel region. A French base will go up within weeks in a desert outpost just a hundred kilometers (60...
 
 
Navy photograph

Navy to commission submarine North Dakota

Navy photograph The PCU North Dakota (SSN 784) during bravo sea trials. The crew performed exceptionally well on both alpha and bravo sea trials. The submarine North Dakota is the 11th ship of the Virginia class, the first U.S....
 

 

Boeing announces SF Airlines order for Boeing converted freighters

Boeing announced Oct. 23 that SF Airlines has placed an order for an undisclosed number of 767-300ER passenger-to-freighter conversions (Boeing Converted Freighters). SF Airlines, a subsidiary of Shenzhen, China-based delivery services company SF Express, will accept its first redelivered 767 in the second half of 2015. “SF Express aims to become China’s most respected and...
 
 
LM-C130

Another Super Herc Little Rock Rollin’

  Lockheed Martin delivered another C-130J Super Hercules to the 61st Airlift Squadron at Little Rock Air Force Base, Ark., Oct. 23. Little Rock AFB’s new C-130J was ferried from the Lockheed Martin Aeronautics facility ...
 
 

United Technologies beats third quarter profit expectations

United Technologies Corp. Oct. 23 reported third-quarter profit of $1.85 billion as sales increased across all its businesses and the aerospace giant reported favorable tax settlements. The Hartford, Conn.,-based company said it had profit of $2.04 per share and earnings, adjusted for non-recurring gains, came to $1.82 per share. The results topped Wall Street expectations,...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>