Erickson Signs Aerial Services Contract to Support Oil & Gas Exploration and Production in Ecuador

PORTLAND, Ore.--(BUSINESS WIRE)--

Erickson Incorporated EAC, a leading global provider of aviation services, announced today that the Portland-based company has entered the Ecuadorian market by partnering with Avioandes S. A. and signed a contract with Agip Oil Ecuador. Based in Quito, the oil and gas provider is owned by parent company Eni SpA ENI, an integrated energy company headquartered in Italy. Services are scheduled to start this month.

The one-year deal, with an additional one-year service extension option, contracts two Erickson aircraft to provide transport of people and equipment for oil and gas exploration and production to the Villano Oil Field in Block 10, approximately 260 kilometers southeast of Quito. Agip Oil Ecuador, has been operating the block since 2000. In September of this year, the company announced the discovery of an oil reserve potentially containing 300 million barrels of oil in place. Current facility production is approximately 12,500 barrels of oil per day.

“I look forward to working with the team at Agip Oil Ecuador and we are thrilled to be helping on this important project for Ecuador's oil and gas market,” said Udo Rieder, Erickson President and CEO. “Our extensive portfolio of successful and safe heavy-lift and passenger transport projects across the globe speaks to our trusted brand and reputation. Oil and gas companies continue to seek Erickson's support for their most important business operations.”

Transport of equipment and personnel will be executed using an Erickson heavy lift S-64F model Aircrane and a Bell 214ST medium-lift helicopter. Aircranes and precision-lift aircraft are crucial to this oil and gas project to ensure no harm is done to the surrounding environment. The Villano Oil Field is regarded as setting the new standard for environmentally-conscious and socially responsible development in the rainforest. The operation was designed to meet the challenge of making oil and gas exploration and production compatible with conservation and sustainability goals. To minimize impact on the rainforest and its ecosystem, the field was developed without access roads or runways. People, drilling equipment and supplies for Agip Oil Ecuador's operations will be transferred via Erickson's helicopters.

“Our aircraft allow us to transport cargo and people, and perform heavy-lift operations in remote and environmentally protected areas around the world without disturbing the surrounding ecosystem. This contract reinforces our dedication to the South American oil and gas industries and demonstrates our ability to provide single-source solutions for heavy-lift and passenger transport to some of the most remote parts of the world,” Rieder added.

Erickson employs the world's most qualified pilots, maintenance personnel and project teams to aid in flight operations and safety procedures. The Erickson team specializes in problem solving and large-scale missions in some of the most isolated and challenging locations on Earth.

About Erickson

Erickson is a leading global provider of aviation services for a diverse mix of commercial and government customers. Erickson currently operates a diverse fleet of 88 rotary-wing and fixed-wing aircraft, including 20 heavy-lift S-64 Aircranes. The Aircrane is the only helicopter in the world with an aft-facing pilot station used to control extreme precision load placement. This fleet supports a wide and worldwide variety of government and commercial customers, across a broad range of aerial services, including critical supply and logistics for deployed military forces, humanitarian relief, firefighting, timber harvesting, infrastructure construction, and crewing. Erickson also maintains a vertical manufacturing capability for the S-64 Aircrane, related components, and other aftermarket support and maintenance, repair, and overhaul services for the S-64 Aircrane and other aircraft. Founded in 1971, Erickson is headquartered in Portland, Oregon, and maintains facilities and operations in North America, South America, Europe, the Middle East, Africa and Asia-Pacific. For more information, please visit www.ericksonaviation.com.

This press release contains certain statements relating to future results (including, without limitation, “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “predict”), which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including our inability to successfully execute on our contract with Agip Oil Ecuador, and also including certain other risks or uncertainties more fully described under the heading “Risk Factors” in our most recently filed Annual Report on Form 10-K as well as in the other reports we file with the SEC from time to time, which are available at the SEC's web site located at http://www.sec.gov. You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.