ST. JOHN'S, NF, Aug. 23 /CNW/ - CHC Helicopter Corporation ("CHC") (TSX:
FLY.A and FLY.B; Nasdaq: FLYA) announced today that its wholly owned
subsidiary, CHC Helicopters International, has signed contract renewals and
expansions worth a total of approximately $57.6 million (all figures in
Canadian dollars).
In the Gulf of Thailand, CHC has negotiated an 18-month contract with
Chevron Offshore (Thailand) Ltd. for the provision of a second dedicated
Sikorsky S-76A++, to be based at U-Tapao, Thailand. The aircraft is to replace
an existing crew boat shuttle service and is valued at $4.3 million per annum.
Also in the Gulf of Thailand, CHC has signed a one-year contract
extension, plus six option months, with PTTEP (the Thai Government Petroleum
Authority) for the provision of two dedicated S76A++ from its base at
Songhkla, Thailand. The contract extension is valued at $11.6 million per
annum.
In the Persian Gulf, CHC has been awarded a 30-month contract to support
AGIP Offshore from Kish Island with one primary Sikorsky S76A++ and one back-
up Bell 212. The contract, which is scheduled to commence November 1, 2002,
replaces a short-term contract for one aircraft, and is valued at $13.5
million per annum.
CHC Helicopter Corporation through its subsidiaries and investments is a
leading provider of helicopter transportation services to the oil and gas
industry, with a combined fleet of more than 300 light, medium and heavy
aircraft operating in 23 countries, and with approximately 2,500 employees
world-wide. |
