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CHC Helicopter Corp., a provider of helicopter services to the offshore oil sector,won two contracts by Statoil ASA, Norway’s state-owned oil company.

The new contracts replace existing ones. They areworth $1.1 billion and start in 2009.CHC also said they represent an $80-millionincrease in annual revenue. 3-month trading for CHC Helicopter “A” shares

“The company believes the award represents the largest bundle of helicopter service contracts ever awarded,” CHC said in a statementFriday.

The deals are to provide helicopter services in the Norwegian Sea for Statoil. One contract is for five years and the other is for seven years. Both have the option of adding up to four additional years.

Class A shares of CHC flew slightly higher on the news, gaining nearlyfive per cent onFriday to close at $27.50 on the TSX. Earlier in the session they reached a fresh 52-week high of $26.66.

Earlier in the week, the Vancouver-based company reported a 25 per cent jump in fourth-quarter earnings, thanks to growth in its fleet.

CHC provides helicopter services to the global offshore oil and gas industry with aircraft operating in more than 30 countries.

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