Bouygues Offshore: Creation Of a New Company in Kazakhstan: KOBOS.Business Editors MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--April 9, 2001 On March 31, 2001, Bouygues Offshore (NYSE NYSE See: New York Stock Exchange :BWG BWG Bankwesengesetz (Federal Law on Banking, Austria) BWG Beam Waveguide (antenna) BWG Bundesamt für Wasser und Geologie (Federal Office for Water and Geology, Switzerland) )(PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. :BOS.) and Kazakhoil's Kazakhoilkurylys subsidiary have signed the agreements and the company's by-laws BY-LAWS. Rules and ordinances made by a corporation for its own government. 2. The power to make by-laws is usually conferred by express terms of the charter creating the corporation, though, when not expressly granted, it is given by implication, and it is in Almaty between, which each have a 50% interest in the new entity. The name of the company, which is in the process of being registered and will be operational within the next few days, is Kazakhoil - Bouygues Offshore, which will be abbreviated as KOBOS. In March 2000, Bouygues Offshore and Kazakhoil began to hold talks about the creation of a joint company and in June 2000 the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bouygues Offshore, Mr. Le Bouc and the Chairman of Kazakhoil, Mr. Balguimbaev signed a letter of intention for this partnership. The new company has been created to undertake turnkey See turnkey system. oil and gas construction and service projects in Kazakhstan. Within its framework, Kazakhoil and Bouygues Offshore will each contribute complementary resources: Kazakhoil is an oil company with strong growth potential, while Bouygues Offshore is an international energy services company which works with all the oil majors. The transmittal to KOBOS of its experience and technological know-how will be key advantages for the development to come in Kazakhstan. Mr. Le Bouc and Mr. Balguimbaev have stated their optimism about the prospects of this new company, which will shortly obtain its first contracts. KOBOS's development potential is excellent and the joint company has numerous objectives, including the intention to participate in the development of Kashagan, Tenguiz, North Buzashi, Koumkol and Karachaganac fields projects. From design engineering to start-up Start-up The earliest stage of a new business venture. and maintenance, Bouygues Offshore provides its customers with turnkey projects in offshore-onshore oil and gas contracting, liquefied gases, maritime and river works and chemicals-refining/energy-industry. Further information on the company can be found on line at www.bouygues-offshore.com. Driven by a strong commitment to the energy industry, an on-the-spot presence and a team of talented professionals, we deliver solutions that are safe, innovative and promote the success of our clients and our Company. |
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