VANCOUVER, Oct. 11 /CNW/ - CHC Helicopter Corporation ("CHC") (TSX: FLY.A
and FLY.B; NYSE: FLI) announced today confirmation of new contracts and
renewals by CHC's Global Operating Division for the provision of helicopter
transportation services. Contract details as follows:
1. A new one-year contract with Total Upstream Nigeria Ltd ("Total"),
for two Eurocopter EC225 helicopters in support of Total's Akpo Field
Development Project in Nigeria. The contract is expected to commence
in August 2008.
2. A new three-year contract (plus two one-year extension options) with
Shell Philippines Exploration B.V. ("SPEX"), for one Sikorsky S76C++
helicopter in support of SPEX offshore operations in the Philippines.
The contract is expected to commence in January 2008 and is an
upgrade from a Sikorsky S76A++ that CHC is currently operating for
3. A new 18-month contract (plus two one-year extension options) with
Caspi Meruerty Operating Company B.V. ("CMOC") for one Eurocopter
AS365N3 Dauphin helicopter in support of CMOC's operations in
Kazakhstan. The contract commenced in August 2007 and is both a new
customer and a new market for CHC.
4. A two-year contract extension with BP Exploration (Caspian Sea Ltd.)
for one Eurocopter AS332L and one AS332L1 Super Puma in Baku. The
Super Pumas will replace a Sikorsky S61N that was part of the
original contract; in addition CHC will continue to operate one
Sikorsky S76C+ and one Sikorsky S76A++. The contract was extended in
5. A five-year extension with DeBeers Marine Namibia (PTY) Ltd
("DeBeers") for two refurbished Sikorsky S76A++ helicopters. The
extension is retroactive to April 2007 and the helicopters will
support DeBeers' operations in Namibia.
6. A contract upgrade with ExxonMobil Canada Properties Ltd in Nova
Scotia, Canada. The existing Sikorsky S61N was replaced with one
Eurocopter AS332L, which will be utilized for the life of the
contract. The original contract term was from October 2005 until
Total anticipated revenue from these contracts is expected to be
approximately $180,000,000 over the contract and options period (all figures
in Canadian dollars). These contracts in five different regions around the
world exemplify CHC's global presence, and continued commitment to the world's
oil and gas industry.
CHC is the world's largest provider of helicopter services to the global
offshore oil and gas industry, with aircraft operating in more than 30
Forward Looking Statements
Statements in this press release contain projections and other
forward-looking statements involving known and unknown risks and uncertainties
that may cause our performance to be materially different from that implied.
While these projections and other statements represent our best current
judgment, they may involve additional risks and uncertainties including, but
not limited to, factors detailed in CHC's Annual Report on Form 20-F and in
other filings with the United States SEC and the Canadian securities
regulatory authorities. Unless otherwise required by applicable securities
laws, CHC disclaims any intention or obligation to update or revise any
forward looking information, whether as a result of new information, future
events or otherwise.
For further information:
For further information: Rick Davis, Senior Vice President and Chief
Financial Officer, (604) 279-2471 or (778) 999-0314