Corporate Governance Changes at BOURBON

Christian Lefèvre becomes Chief Executive Officer as of January 1, 2011 Jacques de Chateauvieux remains Chairman of the Board of Directors

On the recommendation of Jacques de Chateauvieux, the Board of Directors of BOURBON, meeting on December 6, 2010, decided to separate the functions of Chairman of the Board of Directors and Chief Executive Officer, with effect from January 1, 2011.

Jacques de Chateauvieux, previously Chairman & Chief Executive Officer of BOURBON, will continue to chair the Board of Directors.

Christian Lefèvre, previously Executive Vice-President and Chief Operating Officer, has been appointed Chief Executive Officer of BOURBON, with responsibility commencing January 1st.

Gaël Bodenes, previously Executive Vice President - Offshore Division – Business Management, has been appointed Executive Vice-President and Chief Operating Officer.

The Executive Committee is now composed as follow:

Christian Lefèvre, Chief Executive Officer

Gaël Bodenes, Executive Vice-President and Chief Operating Officer

Laurent Renard, Executive Vice President and Chief Financial Officer

Commenting on the new structure, Jacques de Chateauvieux said: “BOURBON’s strategy, totally focused on the offshore oil and gas marine services activity, was clearly established in June 2010, and since then, asset disposals necessary for financing the plan have been carried out. BOURBON’s Executive Committee, led by Christian Lefèvre, the newly-appointed Chief Executive Officer, is totally dedicated to implementing the BOURBON 2015 Leadership Strategy plan.”

Christian Lefèvre confirmed that “The roadmap for BOURBON 2015 is very clear, for Managers and Teams. The due execution of the plan is dedicated to the satisfaction of our clients, whom we will continue to serve, providing them with the safest possible marine operations, conducted by skilled and responsible crews, on board the most modern and high-performance vessels, with high rates of availability.”
_____

About BOURBON
BOURBON offers a broad range of deepwater and continental offshore oil and gas marine services. Under the new “BOURBON 2015 Leadership Strategy” plan, the company will invest US$ 2 billion to offer its most demanding oil and gas clients a large fleet of 600 innovative and high performance vessels. It will guarantee the highest standard of quality service worldwide, under completely safe conditions.
BOURBON also protects the French coastline for the French Navy.

Classified by ICB (Industry Classification Benchmark) in the "Oil Services" sector, BOURBON is listed for trading on Euronext Paris, Compartment A, and is included in the Deferred Settlement Service SRD and in the SBF 120 and Dow Jones Stoxx 600 indices.