Bourbon gains full control of Delba Maritima.
FRENCH offshore vessel operator Bourbon has taken full control of its Brazilian joint venture, Delba Maritima Navegaçăo, opening up the prospect of new expansion in the fast growing Brazilian offshore oil market.
Bourbon, which has had a 50% stake in the Brazilian company since 2001 alongside local entrepreneur and company founder Newton Lins, said that it had agreed to buy out its partner at his request.
Agreement on the transaction was reached on December 29 and has now come into effect, giving Bourbon 100% control of the company.
Bourbon said that the takeover would enable it to offer the full range of its services in Brazil in future and take full advantage of expected growth in the Brazilian offshore market.
?With a production of 2m barrels per day in 2009, over 12b barrels of proven reserves and an investment programme of $105bn over five years announced by our client Petrobras, we plan to seize new commercial opportunities and consolidate investments to meet the challenge of Brazilian growth both in continental and deepwater offshore,? said Bourbon executive vice-president for operation, Chrstian Lefèvre.
Set up in 1970, Delba Maritima Navegação is one of Brazil"s leading offshore service groups. It has a fleet of 16 vessels and employs over 500 people in Brazil in five locations.