PRESS KIT

BOURBON ORCA
 Contents

Description of the vessel............................. p 4-6

Technical sheet.............................................p 7-8

BOURBON in a few words........................... p 9

About Bourbon Offshore............................. p 10-12

Information on Ulstein................................. p 13

Press Kit Bourbon Orca 2

 Description of the vessel
Bourbon Offshore Norway has achieved an amazing advance in innovation by
participating in the development of an Ulstein AX104 anchor handling vessel,
equipped with the new Ulstein X-Bow hull design from Ulstein Design AS. This
vessel offers three innovations: inverted bow, a new secure anchor handling system,
and diesel-electric propulsion.

Bourbon Offshore was the trail-blazer that allowed this achievement.

A new Ulstein X-Bow

The first thing one notices about this vessel is the new shape of its hull. This vessel is
equipped with a hull, with an inverted bow. Instead of moving above the level of the
sea, it rises toward the back. This completely new concept has been named the
Ulstein X-Bow.

The vessel can cut through the waves so that interior noise and vibrations are
reduced. The shape of the hull results in a decrease in pitching and, as a result, the
bridge is hit with fewer water sprays. All these elements enhance the safety of
operations in heavy swells.

"Thinking outside the box is a credo at Ulstein Design, a credo that we work to
translate into action. However, it is not enough to think new; we need to work with
marine companies that are bold enough to dare to become involved and innovate
with us. Bourbon Offshore Norway has shown us that it belongs to this group of
pioneers, because it was immediately enthusiastic and participated with the
completion of this innovative project," says Tore Ulstein, Chief Executive Officer of
Ulstein Design A.S..

"We were truly excited about the design of this vessel and the tank trials showed us
that this hull offers exceptional advantages over traditional hulls," explained Trond
Myklebust, Managing Director of Bourbon Offshore Norway. "In addition to the fact
that it reduces fuel consumption, this hull improves onboard comfort, offering the
crews greater safety and rest. In choosing this type of vessel, we are setting a
radically new standard for the future of offshore supply vessels," he adds.

Because of its shape, the vessel increases its cruising speed in all weather, and
achieves substantial fuel savings.
Press Kit Bourbon Orca 3
The SAHS system developed by ODIM

The ODIM system is a concrete implementation of the BOURBON QHSE (Quality,

Health, Safety and Environment) system.

From the beginning of this project, Bourbon Offshore Norway, strongly encouraged
by the Statoil oil company, partnered with Ulstein and ODIM (a recognized hydraulic
solutions supplier) in order to develop a solution to improve personnel safety on the
after deck of the vessel. This collaboration produced the SAHS System (Safe Anchor
Handling System) which eliminates any human presence on the after deck of the
vessel during the most dangerous operations.

The after deck is equipped with two powerful mobile cranes equipped with articulated
grappling hooks, a control system and a remote activated video surveillance system,
as well as a mobile anchor handling platform system to replace the traditional stern
roller. As a result, no member of the crew is on the after deck, which prevents any
risk from handling equipment or a cable failure.

The use of this extremely safe system is fully in compliance with the QHSE Charter
adopted by the group.

Articulated bridge system

Anchor handling

Recovery of a mud

Press Kit Bourbon Orca 4

Trond Myklebust, Managing Director of Bourbon Offshore Norway, stresses that
crews have been handling the anchor in the same way for 20 years, with all the risks
involved. Everyone agrees that the risks are much too high in this type of operation;
this is why we decided to change things with this vessel. The SAHS system is the
result of the highly technical study conducted at the local level by operators that are
very much the leaders in the market. We were inspired by Statoil's invitation to
develop safer anchor handling operations. As a result, in partnership with ODIM and
Ulstein Design, we developed a radically different concept," he says. We relied on
the expertise and experience of captains, seamen, crane operators and platform
managers and on the expertise of our partners. Thanks to the pool of marine activity
based in northwest Norway, a foundation allowed the development of solid innovative
projects in partnership with other companies. With the crucial support of the
Norwegian Research Council, we achieved a result which, we believe, will
revolutionize anchor handling safety.

Diesel-electric propulsion
The vessel will be the first anchor handling tug supply vessels in the world designed
for the North sea environment equipped with diesel-electric propulsion.

The diesel-electric propulsion system reduces the total cost of operation and
maintenance. Environmentally toxic gas emissions are also reduced, and the vessel
gains maneuverability. While more traditional propulsion systems are less expensive
to purchase, a vessel equipped with diesel-electric propulsion system will achieve
substantial fuel savings. Moreover, reducing the operating rate of the engines
reduces engine wear accordingly.
"The brand new AX104 from Ulstein will be one of the first AHTS vessels in the world
equipped with diesel-electric propulsion," announced Ulstein. "With a conventional
propulsion system all the motors of an AHTS run continuously. With this type of
propulsion, only the power required is supplied. This is a significant asset, both on
the financial level and for the environment," says Bourbon Offshore Norway
Marketing Director Eirik Eide.

Press Kit Bourbon Orca 5

Press Kit Bourbon Orca 6
Press Kit Bourbon Orca 7
 In a few words
Work force: 3600 employees
Fleet: 230 vessels
Revenues: 600 million euros in 2005

Each of the group's businesses is developing real expertise that integrates service quality,
technological progress, professional control and long-term relations with its order giver
clients. Operating worldwide, BOURBON employees more than 3600 people and owns 230
vessels.

Towage & Salvage Offshore Division Bulk Division

Division Work force: 2500 employees Work force: 40 employees at
Work force: 1,100 Fleet: 130 new generation vessels headquarters
employees adapted to modern offshore Fleet: 6 owned bulk carriers
Fleet: 66 tugs +100 vessels on order
+16 tugs on order

Jacques de Chateauvieux
BOURBON Chairman and Chief Executive Officer

The management team at BOURBON Offshore

Christian Lefvre
Gal Bodenes Chief Executive Officer Frank Dambrin
Executive Vice President Executive Vice President

Press Kit Bourbon Orca 8

The benchmark in modern offshore oil and gas marine services

The goal of BOURBON is to become the leader in modern offshore marine services
by 2010, by offering the most demanding clients, everywhere in the world, the
services of a full line of new generation, innovative and high-productivity vessels.

By relaying on a dynamic policy of medium and long-term contracts, Bourbon

Offshore is able to adapt its services to the specific needs of its clients and guarantee
a high utilization rate for its vessels.

2500 employees, seamen and officers are also highly qualified and regularly receive
additional training. Management, which is based on safety and operational
standards, strengthens the quality of the service.

With a strong presence in the "Golden Triangle"the west coast of Africa, Brazil,
Gulf of Mexicoand in the North Sea, Bourbon Offshore is developing a strategy of
acquisitions, alliances and partnerships to enhance its international presence.

Press Kit Bourbon Orca 9

Its clients are primarily the world's major oil groups (Total, Exxon Mobil, Chevron
Texaco, BP, Shell, Agip, Statoil, Norsk Hydro, Conoco Philips) and a large number of
state-owned oil companies (Petrobras in Brazil, Pemex in Mexico, ONGC in India,
Sonangol in Angola).

With more than 130 modern offshore new-generation vessels and nearly 100 vessels
on order, Bourbon Offshore offers a full line of vessels and services to the offshore oil
and gas industry:

Multi Purpose Supply Vessels

(MPSV)
Support for platform maintenance
operations, robot undersea operations,
well stimulations and more...

Anchor Handling Support

Vessels (AHTS)
Towage and rig anchor handling

Platform Supply Vessels (PSV)

Supply of equipment and special
products to offshore facilities

Press Kit Bourbon Orca 10

 Tugs
Assistance for tankers and on offshore
oil terminals

Fast Supply Intervention

Vessels (FSIV)
Urgent equipment supply and transport
of response teams

Crew Boats
Transport of personnel to oil and gas
sites and among platforms.

Press Kit Bourbon Orca 11

 Ulstein - BOURBON
An extended collaboration

With nearly 90 years of experience in naval construction, Ulstein, based in Norway,

has acquired substantial expertise in the development, construction and sale of
vessels designed for demanding marine operations. The group has accumulated a
very high level of expertise in vessel design, electrical systems and marine
electronics.

The quality and flexibility of its design and execution means that the Ulstein group
builds vessels and systems that officially contribute to improvements in the global
market for service vessels.

BOURBON has placed orders for ten vessels of Ulstein Design, of which 3 has been
delivered.

Press Kit Bourbon Orca 12