It’s NOT the full picture to say Bristow just lost Apache on cost. There were other factors .... ... apparently.
As someone else pointed out CHC have taken the opportunity to outsource and cut costs. Just before covid came along Bristow were about to be forensically taken apart by ‘streamlining specialists’ from the US. That’s not a rumour, it was stated by senior managers at events this time last year. Needless to say I hear this is yet to happen.
This is the third big contract in a row that has not been renewed and that should have alarm bells ringing in Houston. Repsol are still pontificating and have been for months presumably after this news they will think it strengthens their hand for a further reduction on renewal.
The new CEO basically lost a whole year while others were making themselves more competitive.
Anyone dealing with Bristow from the exterior who are used to the current O&G trends for ‘synergising’ can’t help but wonder how bloated some parts of the business are and how antiquated some of the processes the outside world sees seem. No point blaming the BD guys if what they are selling is a quarter more expensive than anyone else because their costs are higher.
Fingers crossed that job losses from all 3 operators can be kept to a minimum.
Last edited by LesPretend; 11th Mar 2021 at 13:44.