Nelson-based Helicopters New Zealand has snared a US$40 million (NZ$49m) contract to provide offshore helicopter services to Shell in the Philippines.

The company has also released its first financial results since it was acquired by Canadian Helicopters from the collapsed South Canterbury Finance last year, revealing a small loss due to acquisition and finance costs.

The lucrative four-year contract will see HNZ ferry crews to and from Shell's offshore petroleum platforms in the Philippines from September next year.

From the second quarter of 2014, HNZ will also provide transport to support Shell's oil and gas exploration and development work in the area.

Keith Mullett, international executive vice-president at HNZ, said the contract would create jobs in Nelson and the Philippines.

The company would be hiring "high-quality, high-paying" staff in Nelson to support the contract, to add to its 30 to 35 staff already there.

"In the Philippines, we'll hire in excess of two dozen people. People currently working for us will have the opportunity to transfer, and we'll also be looking to the New Zealand market to see what it can supply in terms of helicopter pilots and engineers."

HNZ's successful bid was testament to the work it had done over the years building the business, Mr Mullett said.

"Shell is probably the most demanding oil company in the world when it comes to safety and quality.

"There are very few companies worldwide that could have been successful in this tender."

The support of Canadian Helicopters meant HNZ had financial stability and the ability to invest, he said, and the parent company was backing HNZ to increase its business internationally.

Asia would be an important market for HNZ in future, and beyond that it would look to Africa and South America.

"These markets have high-growth economies, emerging markets and a focus on natural resources. They have oil businesses and mining businesses."

HNZ reported a small loss of $146,000 for the period from April 12 last year to the end of December, thanks to a one-off charge of $2.25m related to its acquisition, and $2.1m in finance costs. Revenue for the period was $19.8m.

The company said that if the $106m cash acquisition had occurred in January last year, it would have posted a net profit of about $1.95m in the calendar year.

HNZ was established in 1955 by Alan Hubbard and Doug Shears. Its customers include Rio Tinto in Australia and Shell Todd Oil Services, which operates the offshore Maui oilfield in the South Taranaki Basin.

- © Fairfax NZ News