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Chc Helicopter Subsidiary Lands North Sea Contract


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VANCOUVER (CP) - A CHC Helicopter Corp. subsidiary has signed a five-year contract renewal worth $125 million, the company said Friday.

 

Under the deal, Schreiner Northsea Helicopters will provide four aircraft to a group of companies made up of Total E&P Nederland, Wintershall Noordzee and Petro-Canada Netherlands to provide offshore transportation services to oil and gas fields in the Dutch sector of the North Sea.

 

The new aircraft, two EC155B1s and two AB139s, are scheduled to be introduced in 2006, replacing three Sikorsky S76B aircraft and one Sikorsky S-61N.

 

The contract could also include two one-year extensions.

 

CHC Helicopter (TSX:FLY.SV.A) bills itself as the world's largest providers of helicopter services to the global offshore oil and gas industry, with aircraft operating in more than 30 countries and about 3,400 employees worldwide.

 

Shares in CHC Helicopter traded up 36 cents Friday morning at $48.61 on the Toronto stock market.

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