The company also stated that, pending the transition to the new contract for the Restore Iraqi Oil (RIO) program in Iraq, it has temporarily demobilized its personnel in the region. The company remains positioned to respond immediately, however, whenever an emergency arises in Iraq.
"While this delay in redeployment was unanticipated, it occurs during a period when our domestic response business has improved," said Jerry Winchester, Chief Executive Officer of Boots & Coots. "Additionally, the prevention side of our business continues to grow, especially in Venezuela and North Africa. We also expect our expanded relationship with ONGC to create additional opportunities for us in Asia. We have spent the last five years developing a strategy to build the prevention side of our business, and as a result our prevention services revenues have increased approximately 50 percent over the past year."
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