Paris, April 24th 2006, pdf file
In line with its leadership strategy in modern offshore, BOURBON is expanding its fleet with next-generation, innovative and high-productivity vessels to assist its oil and gas clients in the development of their deepwater and continental offshore operations.
On February 28, 2006, in the context of its Horizon 2010 plan, BOURBON announced investments of 1.45 billion euros, 85% (1.23 billion euros) of which will be devoted to the Offshore Division.
Since January 1st, 2006, BOURBON has placed the first series of orders for 56 modern offshore oil and gas supply vessels, which represents a total USD 808 million (672 million euros). These 56 vessels are in addition to the 27 supply vessels already under construction at December 31, 2005.
In line with its growth strategy in deepwater offshore oil and gas marine services, BOURBON has defined in detail and ordered new, innovative vessels, equipped with the latest technologies to guarantee the best safety conditions during operations.
The deliveries and commissioning of these vessels will be staggered from the final quarter of 2007 until the first half of 2009.
By developing new concepts for vessels to replace the old units working in continental offshore, BOURBON has demonstrated its strong capacity for innovation.
These "next-generation" vessels precisely meet future client demands for safety, maneuverability, environmental protection and productivity.
All 36 AHTS and PSVs ordered are diesel-electric, classed DP2 and FiFi1, and maneuver using 2 directional thrusters associated with a fixed propeller and 2 bow thrusters. They have been designed to optimize the transport of various products and can carry 640 m3 of liquid mud.
Christian Lefevre, COO of BOURBON, announced: These large orders placed within a very short time period are one of the key factors in our international growth. With the recent opening of new subsidiaries in Mexico, Qatar, Egypt and Asia, we are able to serve the needs of our clients in those regions. Building vessels in series allows us to apply a profitable economic model to reduce construction and maintenance costs. The success of this model is based on control of industrial know-how, which BOURBON has already demonstrated. With the new vessels ordered, by the end of the year we will boost our capacity to satisfy clients’ expectations for modern vessels, both for their deepwater and continental offshore operations.
With an offer of offshore oil and gas marine services, towage, assistance and salvage, and bulk shipping, BOURBON is a major international player in marine services.
Classified by Euronext in the "Oil Services" sector, BOURBON is listed on Eurolist Paris, Compartment A and is included in the MID 100, SBF 120 and Dow Jones Stoxx 600 indices. Since March 28, 2006, the BOURBON share has been included in the Deferred Settlement Service (SRD).
Bourbon Offshore offers a full line of offshore oil and gas marine services for the oil majors and super-majors and the leading state-owned oil companies.
With 2500 employees, Bourbon Offshore has a fleet of 190 modern, powerful and multi-purpose vessels and is preparing for the challenges of tomorrow with more than 90 vessels on order or under construction.
Already present in 23 countries, Bourbon Offshore is expanding its presence in its historic areas of operations, like the North Sea and the "Golden Triangle, the West Coast of Africa, Brazil and the Gulf of Mexico, and is assisting the growth of its clients in new operating regions like Latin America and Southeast Asia.
In 2005, the BOURBON Offshore Division reported revenues of 277.2 million euros, up 24%.