Global helicopter operator CHC announced yesterday that it had entered into a conditional agreement to buy Babcock's oil and gas operations.
Babcock provides offshore oil and gas crew transport services in the UK, Denmark and Australia. It is headquartered in Aberdeen UK and employs over 500 people and operates around 30 aircraft across its three locations.
CHC and Babcock expect expect to complete the deal subject to pre-closing conditions in the second quarter of 2021. CHC will seek clearances for the transaction from antitrust authorities in the UK and Australia, though the deal is not conditional on those clearances.
Babcock’s Australian oil and gas customers include Santos, ConocoPhillips Australia, Chevron, Jadestone Energy, ENI Australia and Woodside Energy.
CHC's existing oil and gas operations carry nearly 2 million passengers each year to workplaces in Australia, Brazil, Norway, the UK, Canada, Africa and South-east Asia.