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Business & Technology
Thu July 19, 2012
Tidewater sees growth in Africa market
Executives of offshore oil and gas fleet provider Tidewater Inc. told shareholders Thursday that prospects are bright the company's African market.
The Times-Picayune reports more than 90 percent of New Orleans-based Tidewater's fleet of oil and gas service vessels operates abroad. The largest concentration is in waters off sub-Saharan Africa, where Tidewater stations 132 vessels, about half its fleet.
Chief Operating Officer Jeff Gorski told shareholders attending the company's annual meeting that Africa is expected to continue to be a leading market.