After the 1973 oil crisis, major oil and gas companies began exploration further offshore, thus creating a need for aircraft such as the S-92 with sufficient capability.
Sikorsky Aircraft first displayed a S-92 mockup of the planned helicopter in 1992. The S-92 was to be offered for sale beginning in 1993, but due to a decline in the international market for helicopters, this was delayed. In 1995 Sikorsky formed Team S-92 with international partners and launched the helicopter program at the Paris Airshow that year. Sikorsky developed the S-92 to compete with civil aircraft such as the Aerospatiale/Eurocopter Super Puma. The helicopter uses a new airframe with dynamic components based on the S-70/H-60 components. The S-92 took its maiden flight on December 23, 1998 at the Sikorsky Development Flight Center, West Palm Beach, Florida.