Pam Boschee, International Editor
(Europe) - France's Bourbon is moving forward as a pure player in marine services, a significant transition from its early beginnings as a sugar producer in 1989.
As recently as 2000, the company was a conglomerate of food processor (21%), retail (52%), and marine services (27%).
Last year, the company's primary focus became marine services, with its new identity defined as operating in offshore oil and gas services, towage, and bulk shipping.
By the end of 2006, the planned transition should be complete.
Bourbon has strategically entered marine services, says its CEO, Jacques de Chateauvieux, at a time when the increase in offshore production is expected to be 34 to 39%, with deepwater accounting for approximately 6 to 16% of that growth.
He says 65% of new discoveries in 2002 to 2003 were in deepwater.
Key indicators of potential growth in demand for Bourbon's marine services/deepwater vessels are: demand for drilling rigs, storage production units (FPSOs, TLPs, spars), and subsea installations.
Describing Bourbon's strategy, de Chateauvieux says, "Today, anything that floats, makes money. However, in the future, only those with low costs will be successful."
For this reason, he emphasizes the company's goal to deliver new vessels quickly. As the exisiting global fleet of service vessels ages, timing is the key when talking about replacement.
With 16 bases worldwide from which to operate, Bourbon believes it can deliver its modern offshore vessels quickly, aiming for delivery of a new vessel about every 15 days.
04/03/06
