Offshore Logistics Buys Six Theriot Towing/Supply Vessels

Offshore Logistics, Inc., P.O.

Box 5C, Lafayette, La. 70505, has announced that it has reached agreement in principle with Theriot Offshore International Ltd. to purchase six towing supply and anchor-handling vessels for a price of approximately $18 million. These vessels were constructed in 1974 and 1975 under United Kingdom r e g i s t r y and were designed for service in the North Sea and other extreme weather areas.

Burt H. Keenan, president and chairman of the board of directors, stated: "The North Sea is an area where we foresee longterm market opportunities in offshore transportation, and these vessels will form the nucleus of our North Sea fleet. This acquisition underlines our commitment to provide the best in marine and aviation transportation service to the oil industry throughout the world, and will allow us to increase our participation in an improving international market." Offshore Logistics operates approximately 116 vessels and 115 aircraft in support of the oil and gas industry throughout the world. The company also provides helicopter maintenance and technical support through its subsidiary, Heliflight Systems, Inc.

Maritime Reporter Magazine, page 22, Nov 1978

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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.