Friday, September 29, 2006

Global Vectra Helicorp eyes KG basin

With an aim to tap the aviation market, Global Vectra Helicorp is looking at oil exploration developments at the KG Basin. The company is expecting a significant jump in its revenues in the next few years.
Around 29 helicopters are engaged in the offshore business transportation services in India and with the award of NELP blocks on the east coast as well the recent discoveries of gas in the region, the growth is expected to more than double and new aviation players are likely to enter the market.
With one helicopter servicing one or two rigs at the most, the company is expecting at least 6-7 new aviation contracts from the KG Basin alone.
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