Erickson Air-Crane said Monday it continues stepping up its South American activity, announcing a deal worth as much as $14 million with a Colombian oil and gas firm.
Erickson Air-Crane said it has signed a contract with Pacific Rubiales Energy for heavy lift helicopter services in central Peru. Operations commenced on Jan. 2 and will continue a minimum of 12 months. The contract has a value of between $11 and 14 million, depending on total flight hours completed.
"This opportunity aligns with our overall strategy of further diversifying our fleet's global reach, specifically in the emerging South American oil and gas market," said Chief Executive Officer Udo Rieder. "We believe our unique capabilities will continue to create opportunities to increase our share of the South American market with new, significant and nonseasonal sources of revenue."
Pacific Rubiales Energy is the largest independent oil and gas exploration and production company in Colombia, and owns 100 percent of Pacific Stratus and Meta Petroleum Limited, both of which operate and own interests in the Rubiales and Piriri oil fields in Colombia's Llanos Basin and the La Creciente natural gas field in northern Colombia.
Pacific Rubiales is listed on the Toronto, Colombian and Brazilian stock exchanges. It is presently identifying growth opportunities such as in Peru.
Erickson manufactures and maintains a fleet of S-64 heavy lift helicopters, primarily out of Central Point. Erickson will assist Pacific in moving drill rig components and supplies between exploratory sites in a remote area of east-central Peru. The work is centered around Pacific's oil and gas exploration about 37 miles from Pucallpa, Peru.
As part of the deal, Erickson will provide one S64-F model air-crane helicopter with a capacity of up to 25,000 pounds, along with pilots, field maintenance support crews, parts and components.