Bristow Group Inc., a leading provider of helicopter services to the offshore energy industry, has successfully negotiated a two-year contract extension with a major customer in Nigeria. The extension is effective April 1, 2008 and includes two large and one medium helicopter. Total value of the new contract is estimated at $54 million, which reflects a rate increase in the first year, with an additional rate escalation in the second year.
William E. Chiles, President and Chief Executive Officer, said, "This contract extension is another significant step toward achieving our goal of improved operating margins for our business in Nigeria."
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