If your emergency checklist is accurately based on the AFM emergencies section why would you not follow it? As Hugh Martin says, if your chip light has been brought on by the breakdown of a bearing, you keep the engine running and it is subsequently damaged, your company is, very rightly, going to be extremely pi**ed off with you. If the engine were damaged and an accident resulted, you would probably have negated your aircraft insurance and could be held personally liable.
Presumably, whether flying offshore or not, if you are on a public transport flight, you would still have your Class One en-route performance on the other engine, and would have already calculated that the combination of speed and fuel-burn for your aircraft would be sufficient to take you back to a suitable place for a safe single-engined landing?
Not all helicopters require you to shut-down an engine with a chip light, but if they do, it's usually for a very good reason