Groupe Bourbon strengthens its presence in Nigeria, signing a partnership agreement with Interoil Services Ltd. and creating a joint venture : Bourbon Offshore Interoil

A joint venture between Groupe Bourbon's Offshore Division and Interoil Services Ltd, after more than a decade of business collaboration between the two businesses, comes as a logical extension of the group's presence in Nigeria. This partnership with the Nigerian oilfield logistics company was signed in a local economic context influenced by the intercoastal navigation legislation, which came into force in July 2004, giving priority to Nigerian maritime transport companies.

Christian Lefevre, general manager of Groupe Bourbon's Offshore Division, explains, "We have confidence in the success of this partnership, which is the culmination of years of experience in Nigeria. We have set ourselves the double target of assuming local business commitments and setting up structures adapted to meet the requirements of the oil supermajor companies present in the country."

To begin its operating activities in the first quarter of 2005, Bourbon Offshore Interoil plans to extend the fleet of 14 vessels (1 AHST, 3 PSVs and 10 Surfers) already in service in Nigeria and to rapidly tender for services involving new ships. As an illustration of this development and investment strategy, an order for 4 new crew-boats has already been placed for 2005 with the West Atlantic Shipyard in Port Harcourt.

With this partnership, the Groupe Bourbon's Offshore Division clearly displays its determination to become a fully-fledged member of the Nigerian business community and to develop its range of services for the deep-water offshore industry in the world's largest and most promising oil prospection and development zone.

Paris, December 10th 2004

About Groupe Bourbon:

Offering services on offshore oilfields, in harbour towage, assistance missions and in bulk transport, Groupe Bourbon ranks as a major international figure in the maritime service field.
Through its subsidiary Vindémia, the group also operates in the world of mass retailing.
Listed on the "second market" of the Paris stock exchange, Groupe Bourbon employs some 8500 staff-members and registered a turnover of a billion euros in 2003.
Since February 2004, Groupe Bourbon has been classified by Euronext in the "Oil Services" category.

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Press contact Catherine Gros 01 53 70 74 70 cgros@image7.fr
Press contact Emmanuelle Flobert 01 53 70 74 61 eflobert@image7.fr

Groupe Bourbon
Financial relations Patrick Mangaud 01 40 13 86 09 patrick@mangaud.com
Press relations Christa Roqueblave 01 40 13 86 06 christagb@wanadoo.fr