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Interview with Jacques de Chateauvieux, chairman of the Board, and Christian Lefèvre, CEO
How does the BOURBON 2015 Leadership Strategy plan fit into the Group’s history and global strategy?
Jacques de Chateauvieux: The strategy of growth has been central to BOURBON’s history, especially with its focus on offshore marine services.
Initially a pioneer in the growth of deepwater offshore, and gaining a leadership position in 2007, BOURBON began the renewal of the market’s old and obsolete continental offshore fleet with the successful Bourbon Liberty series becoming, at the same time, a reference in the new and growing sector of Subsea services. BOURBON 2015 is a continuation of the two previous plans and is intended to give BOURBON a decisive competitive advantage in these three markets, and to deliver a growth rate of 17% per annum over the period.
At the beginning of 2012, what progress has been made towards the realization of BOURBON 2015?
Christian Lefèvre: Since July 2010, we have engaged 65%* of the plan’s 2billion US Dollars for the commissioning of 3 series of supply vessels which will be delivered from mid-2012 to 2014. At the same time in 2012, we will continue to take delivery of the vessels commissioned under the previous investment plan.
*as of June 20, 2011
BOURBON is now a pure offshore player which evolved from its role as a Shipowner to that of a service provider for the oil and gas production and processing industries. How does this evolution affect the Group's positioning?
Jacques de Chateauvieux: Our clients inevitably allocate their human and financial resources to their core business. This means that they treat their sub-contractors as closely-allied partners in the implementation of their strategy. To be in the top league, BOURBON has developed its service offer along 3 lines:
- The technical specifications of vessels to combine flexibility, maneuverability and reduction in clients’ utilization costs.
- Putting safety as a top priority, totally integrated with the oil companies’ needs and the systems they have defined.
- An organization focused on client relations and the implementation of quality-structured processes under the direct responsibility of our managers, all over the world.
Client satisfaction is central to your ambitions and guides your operating strategy. How do you implement this strategy?
Christian Lefèvre: Marine operations are by definition very exposed: the risk management and more specifically the operational risk management is therefore a major concern for our clients.
We are responding to their demands with a 4-pillared operational strategy:
- The safety of people, assets and environment onshore and at sea: Throughout our company we do our utmost to achieve “zero-accident”. No operation is conducted before a risk assessment analysis has been done.
- The personnel’s skills to guarantee quality of service:
BOURBON is determined to recruit and promote qualified and experienced personnel for the proposed operations, applying its own procedures along with those defined by clients. - Reliability and availability of vessels for continuity of service:
BOURBON builds its vessels in series and standardizes their equipment. This means that personnel can be trained worldwide on simulators and it is a considerable advantage for preventive maintenance – all of which helps toward better availability of our vessels for clients. - Cost optimization:
30% to 50% of our clients’ costs relate to vessel fuel consumption. In our series of 76 Bourbon Liberty vessels, diesel-electric propulsion combined with the commitment of our officers enables clients to make fuel-consumption savings of 30% compared with a similar vessel with standard propulsion.
People say that innovation is in BOURBON’s DNA. Where does BOURBON stand with innovation today?
Jacques de Chateauvieux: If you look at the structure of our fleet, visit our vessels or listen to what clients say about BOURBON, our innovative approach stands out.
But it is not limited to tools – it extends to the organizations, values and attitudes provided and put into practice every day, all over the world, by the women and men who work for BOURBON.
Practicing “empowerment” and fully engaging with subsidiarity is a form of innovation. Encouraging managers to take the necessary time to listen, to better manage and help expand each individual’s commitment, also necessitates innovation in everyone’s personal attitude and conduct.
Opening up to innovation in all its forms is undoubtedly a key component of BOURBON’s DNA.
With your positioning as a top-level service provider and your ambition to become the preferred company in the oil and gas production and processing industries, employee commitment is critical. How do you manage this?
Christian Lefèvre: Motivating employees is the key to success. This is primarily due to the Group philosophy and the attention managers devote to their direct teams, on board the vessels and onshore, within all our affiliates.
The 23% average annual growth that our offshore services business has enjoyed in the last ten years has created a world of opportunities for our employees.
To underpin this growth, we have initiated a development program for our shore-based managers and vessel commanders and for other key positions.
Jacques de Chateauvieux: A good illustration of what Christian Lefèvre said is the progress we have made on governance within BOURBON’s Executive Board. What a brilliant example of the success of our commitment in the year since January 2011!
Strategy
BOURBON’s strategic plan for 2015 continues a voluntary growth policy. Its purpose: making the Group the world leader in offshore oil and gas marine services.
