Feb 18, 2021 News
– Poised to see “highest growth rate” this part of the region
Kaieteur News – In spite of the economic pains felt last year from the COVID-19 pandemic, President and Chief Executive Officer (CEO) of Bristow Group Inc., Christopher Bradshaw, was thrilled to report to shareholders recently that the company is poised for massive growth thanks to the Guyana/Suriname market.
During his company’s latest earnings call, one participant said it seems like almost every day, there are new wells being drilled offshore Guyana and Suriname. With this in mind, the CEO was asked to say how many common copters Bristow has in that region, and how it foresees that support growing over the next three to five years.
In this regard, the CEO said that the Caribbean triangle has certainly been one of the key growth engines for the company while adding that it remains a bright spot globally. Expounding further he said, “First, in Trinidad, where we’ve had the leading presence for more than 60 years now, that market has been fairly stable over the last 12 months despite the overall challenges in the broader oil and gas industry…”
Bradshaw added, “In Guyana and Suriname, which you mentioned, where Bristow is currently the sole operator today of offshore helicopter support to the oil and gas companies who have had such success finding the prolific reserves in those two countries thus far.”
The CEO said Bristow currently has a handful of helicopters servicing the customer in Guyana while a few are servicing a variety of customers in Suriname on their exploration projects. He said that market has grown during the last downturn. He added, “It’s growing now, and we expect it will continue to grow.”
In terms of a specific number, Bradshaw said Bristow is not quoting or targeting a specified aircraft count by a certain date. Be that as it may, he said, “I do think globally, this will be perhaps the highest growth rate offshore oil and gas region that we see.”
Kaieteur News would have previously reported that the offshore helicopter services provider had secured a multi-year contract to provide helicopter offshore crew change and search and rescue (SAR) services to support ExxonMobil in Guyana. The contract was renewed on January 1, 2018 and lasts for five years.
Based out of the Eugene F. Correia International Airport, located near the coast of the Atlantic Ocean, Bristow at the time had said it would operate three existing Leonardo AW139 helicopters.
ExxonMobil is the operator of the giant Stabroek Block offshore Guyana which contains the Liza oil discovery. The oil company is working to aggressively develop its over nine billion barrels of oil equivalent resources. It believes that the discoveries thus far can support as many as 10 floating production storage and offloading vessels.
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