Bourbon’s revenues swell on Africa
French offshore services giant Bourbon’s first quarter revenues are up 21.4%
over the same period last year to €211.7 million ($326.6 million), primarily
due to charters in the offshore division and strong growth in Africa.
Revenues for the offshore unit rose 23.4% in the January to March quarter to
€136.8 million compared with the same time last year.
The growth is the result of the commissioning of new vessels, the renewal of
expiring contracts, plus the increase in vessels chartered from third
parties to meet the needs of customers, said Bourbon.
During the first quarter, the offshore segment commissioned nine new
vessels, two suppy and seven crewboats, a rate that will accelerate in the
second quarter, added the company.
In geographic terms, the Africa region made up 67.3% of the offshore unit’s
revenue, posting strong growth in its operations in a climate marked by the
increase in deep-water investments, as well as spending intended to relaunch
production from oil fields in the continental shelf. The outfit added that
growth was particularly strong in Nigeria and Angola, but also in Congo and
Gabon.
Bourbon’s bulk division accounted for revenue growth of 30.3% in the quarter
to €65.6 million compared with the same period last year.
“Bourbon’s activity continued to be supported by the delivery of new vessels
in the offshore division and by the increase in external charters requested
by out customers,” said the outfit’s chief executive, Jacques de
Chateauvieux, in a statement today.
09 May 2008 06:17 GMT
| last updated:
09 May 2008 06:17 GMT
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