Bourbon has operations worldwide, but could you tell us about the company’s work specifically in Gabon?

Bourbon has a global fleet of approximately 500 vessels, with more than 30 of them operating in Gabon. Following the post-2015 crisis, Bourbon underwent a significant transformation both internationally and locally. We shifted from being a simple vessel operator to an integrated service provider with three main divisions: Mobility of personnel, Marine Logistics, and Subsea services. In Gabon, we have 20 boats dedicated to crew transportation and 10 offshore supply vessels for Marine and Logistics Services. Our primary focus is serving clients operating offshore, but we also provide some services to onshore producers through our crewboats.

How has Bourbon adapted its operations in Gabon?

The lessons learned from the 2014-2015 crisis highlighted the need for Bourbon to evolve and recognize that the market would not return to its pre-2014 state. With this understanding, Bourbon could no longer continue with the old business model. Previously, clients would hire vessels full-time for extended periods, even if they were not utilized continuously. Today, our model offers clients more flexibility with customized chartering schemes tailored to their specific needs. This approach allows clients to save costs while enabling Bourbon to restore positive margins.

We now provide a range of Mobility Services such as door-to-rig passenger transportation, flexible chartering, and vessel sharing among multiple clients. Our new fuel incentive offer is an example of a win-win model: clients pay for the fuel, and if we operate the vessel in a way that saves 20% usage, the client receives a reimbursement equivalent to 10%, while Bourbon retains the other 10%. Additionally, Bourbon is expanding into integrated logistics services to cater to all logistics requirements during drilling campaigns.

What motivated Bourbon to remain in Gabon when other companies withdrew after 2015?

Many international companies opt to maintain small teams in each country and leave when the business climate becomes unfavorable. In contrast, Bourbon has always embedded its operations within the countries where we operate. In Gabon, we work in a joint venture with Gabon Oil Company, where they hold a 40% stake. This partnership demonstrates our long-term commitment to the country. Additionally, Bourbon benefits from its extensive history in Gabon, with over 30 years of presence. This experience has equipped us with the knowledge and ability to navigate various challenges. For clients, choosing a company with a proven track record mitigates risks associated with tender processes, making them more likely to rely on an experienced name like Bourbon.

How can the government better support the development of local content?

Gabon faces difficulties due to its limited maritime history. There are few people working offshore, no maritime academy, and the country is not on the International Maritime Organization’s white list. Bourbon maintains a strong relationship with the Merchant Navy to develop training programs for local seafarers. However, public training resources are currently insufficient for our personnel needs. As a result, we invest in training around 10 seafarers annually in Morocco to become pilots on our vessels. The challenge lies not in talent but in training and certification processes. It takes time to produce a sufficient number of seafarers with the required qualifications. On the other hand, all of our crewboat Able-Bodied Seamen (ABs) are Gabonese. We firmly believe that investing in training is crucial because locals have a better understanding of the region. This commitment to training was not an easy decision during times of crisis, but it is essential for the long-term development of our workforce.

How do you anticipate the future development of the oil industry given the current depressed price cycle and the impact of the Covid-19 outbreak?

In Gabon, I see the future of the oil industry lying in offshore and deep-offshore fields. The 12th Licensing round demonstrates that most of the blocks available for exploration are offshore. While Gabon historically focused on shallow waters near the coast, the industry is gradually moving into deeper waters. Companies like Petronas, Repsol, and BW have already conducted drilling campaigns in deep-water areas, and this trend is expected to continue. The push to maintain production will remain strong because oil plays a central role in the country’s economy. In recent years, various oil and gas companies, including Vaalco, Petronas, ENI, Perenco, and Total, have conducted drilling campaigns, and I believe this activity will continue in the coming years.

Although Gabon may not become a major oil producer due to its smaller fields compared to countries like Nigeria or Angola, the oil industry will undoubtedly persist, albeit in smaller volumes. Therefore, opportunities still exist. However, investors must carefully consider how to enter the market. French companies, benefiting from cultural and historical ties, feel comfortable conducting business in Gabon. Other foreign corporations face challenges and need to be adaptable to the complex business environment. The regulatory background will be a key driver for future investments in Gabon, and conflicting measures, such as the implementation of new currency exchange rates, pose significant constraints to the industry.