CHC to Provide New Aircraft to Support Petrobras Ops

CHC Helicopter has won, through BHS- Brazilian Helicopter Services Taxi Aereo (BHS), a new 5-year contract for the provision of eight Sikorsky S-76C+ helicopters in support of Petrobras' operations offshore Brazil. The addition of these new aircraft doubles the size of the CHC fleet in Brazil to 16 aircraft on contract.

The Petrobras contract is expected to commence in January 2007, with the aircraft phased in over an 8-month period. Total revenue anticipated from this contract is estimated at approximately CDN$170 million (US$153.8 million) over 5 years. CHC has exercised its option to acquire a significant equity position in BHS. The acquisition is expected to close in the second quarter.

CHC Helicopter Corp. is the world's largest provider of helicopter services to the global offshore oil and gas industry, with aircraft operating in more than 30 countries around the world.