PHI And TAM Partner On Offshore Support Initiative
Petroleum Helicopters is negotiating a joint venture with Brazil’s TAM to support the growing Brazilian offshore market.

Petroleum Helicopters is negotiating a joint venture with Brazil’s TAM to support the growing Brazilian offshore market. The joint-venture company reportedly plans to begin operations by year-end with Sikorsky S-76s, while the longer-term plans include the addition of the larger S-92.

The impetus behind the partnership has been Brazil’s 10-percent annual growth in the sector over the past five years. Brazil’s state-owned Petrobras reported shuttling 65,000 passengers to and from oil rigs last year. The country’s leading offshore operator, Lider Aviacao, reported $339 million in revenue in 2009, with increasing activity expected once exploration of the Pre-Sal oil field begins.