News re:OLOG big new contract
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Offshore Logistics, Inc. Affiliate, Bristow Helicopters Limited, Awarded Two Long Term Shell North Sea Contracts
LAFAYETTE, La.--(BUSINESS WIRE)--March 27, 1998--Shell UK Exploration and Production announced today that two new long term contracts for helicopter services in the UK and Dutch sectors of the North Sea have been awarded to Bristow Helicopters Limited, an affiliate of Offshore Logistics Inc. The larger contract, running for seven years starting July 1, 1998, is for helicopter services in the central and northern North Sea operating out of Aberdeen and Shetland. This contract should generate revenues in excess of $290 million (175 million British pounds sterling). The second contract supporting operations in the southern North Sea and in the Dutch sector of the North Sea, should generate revenues of more that $80 million (50 million pounds) for a five year period also commencing July 1, 1998.
Shell UK Exploration and Production indicated that "these large contracts have been awarded after a competitive tender process....Bristow Helicopters Limited offered us the best overall package, taking all factors into consideration." Bristow, a significant helicopter operator worldwide, is the largest operator in the North Sea. >> |
