CHC Wins Phillips Contract

CHC Helicopter Corporation has been awarded a new offshore transportation contract by Phillips Petroleum (91-12) Pty Ltd for the provision of two dedicated Super Puma AS332 helicopters.

The contract, commencing March 9, 2002, is for a period of 34 months, with anticipated revenues of CDN $34.5 million.

The aircraft will be based at Baucau, East Timor, and will be supporting the development phase of the Bayu-Undan Gas Recycle Project located in the Timor Sea between East Timor and Australia.

The two Super Puma aircraft will be redeployed from short-term contracts elsewhere within the CHC fleet.