Bristow Group has secured a number of new multi-year contracts for offshore oil and gas services across Europe and in other established and emerging markets.
In total, the contracts are for 12 large and three medium helicopters, expected to generate up to US$850 million in revenue. Six of the 12 large helicopters are new Sikorsky S-92s.
In Europe, Bristow’s new contracts are:
A seven-year contract, starting September 2013, using one new and one existing large helicopter with two one-year extension options;
A five-year contract with each of three different clients for two new and one existing large helicopter. One contract started in August 2013, with two one-year extension options, the second one starts in September 2013, and the third in February 2014;
A 30-month contract for one new large helicopter starting in December 2013; and
A two-year contract for one existing large helicopter, starting in October 2013, with two one-year extension options.
Its new contracts in other operating regions are:
In Australia, Bristow has been awarded two new contracts for three existing large helicopters. One helicopter commenced work in August 2013 for a period of one year and the other two will commence work in December 2013 for a period of 18 months;
In the Gulf of Mexico, Bristow has been awarded a new contract for one new large helicopter starting in April 2014 for a minimum of three years with two one-year extension options;
In Nigeria, Bristow has been awarded a new one-year contract for one new large helicopter to commence work in October 2013 with a one-year extension option; and
In Tanzania and Mozambique, Bristow has been awarded a new contract for three new medium helicopters to support drilling operations. Two aircraft will be used for crew change work and the third aircraft for search and rescue operations. The contract is scheduled to begin in January 2014 for a minimum of 27 months with two one-year extension options.