French conglomerate, Bourbon Offshore has entered into a major partnership with Guyanese firm, Tethys Marine & Logistics, to create a company that would provide premium offshore vessel services for the nation’s oil industry.
Bourbon’s Marine & Logistics division on Monday announced the partnership, stating that TML will become 51% shareholder of the Bourbon Guyana Joint Venture.
Bourbon has been operating in Guyana since 2019 through Bourbon Guyana with a fleet of six vessels, including Large PSV, AHTS, and Tugs. The company employs around 70 Guyanese seafarer and has successfully supported ExxonMobil Guyana and Saipem Guyana for the development of the country’s massive Stabroek offshore oil field.
The partnership with TML will bring Bourbon Guyana into full compliance with local content regulations, with 75% Guyanese directors, making it the first indigenous OSV operator in the Guyana.
According to Rodolphe Bouchet, CEO of Bourbon Marine & Logistics, the partnership with TML is a great opportunity to strengthen their position in Guyana. “Through this operation, Bourbon becomes a ‘Guyanese’ company in country with a local majority shareholder. This is a very important aspect for us, as we always want to include local content in the territories in which we are present,” he said.
“We share the same culture with Bourbon and our visions for the future of the industry in Guyana are aligned. It is very important for Bourbon Guyana to consolidate its leadership position in this promising territory,” added Jaikerran Persaud, CEO of Tethys Marine & Logistics.
Guyana has emerged as one of the hottest markets for offshore oil and gas exploration following a string of significant discoveries by ExxonMobil dating back to 2015 at country’s massive 6.6 million acre Stabroek Block.
The country plans to hold its first to hold its first competitive oil auction this after its original date was pushed back from May.
