SONASURF signs a 5-year contract for the provision of offshore marine services in Angola

Groupe Bourbon, through its subsidiary SONASURF INTERNATIONAL announces the signing of a 5-year contract to provide marine services to ESSO Exploration Angola, a subsidiary of Exxon Mobil Corporation.

Under this accord, Sonasurf International, a subsidiary of the Groupe Bourbon created as a joint venture with Sonangol (the national Angolan oil company), is to develop and manage the full range of offshore marine services needed to develop and operate oilfields in Angola’s offshore Block 15.

This new concept for deepwater oil field development will place Sonasurf at the helm of a fleet of Supply Vessels specifically adapted to the operational requirements offshore Angola including :

• anchor handling,
• platform supply,
• tendering services for shuttle tankers,
• offshore facility maintenance,
• passenger transport.

Specific evaluation criteria based on fleet configuration, operational efficiency, and maintenance downtime will be used to monitor performance and set goals.

The first phase of this contract beginning in January 2002 will involve 5 to 7 vessels representing an investment of 80 million US dollars and will generate mean annual revenues of 25 million US dollars.

As always, Groupe Bourbon will bring the full weight of its extensive experience in the management of offshore marine service vessels to bear in guaranteeing the success of this project.

This new cooperation is another illustration of the continuing determination of the Groupe Bourbon to develop its Maritime Services Branch especially in the domain of deepwater offshore oil and gas production.