Topaz wins $100m contracts to supply vessels to Azeri energy fields

Topaz Energy and Marine haswon two contracts worth $100 million with BP to supply additional vessels toAzerbaijan's largest oil and gas fields, the company said Nov. 25.

Topaz has acquired twoEuropean-built Platform Supply Vessels (PSVs) to serve the contracts.

The boats will be deployedin the fourth quarter of 2013 and the second quarter of 2014 in support of BP'soperations in the Azeri-Chirag-Guneshli (AGC) block of oil and gas fields andthe second phase of development of the Shah Deniz gas condensate field.

"These contract awardsfor additional vessels in Azerbaijan reflect BP's commitment to our long-termworking relationship in the growing Caspian market and their confidence in thereliability, quality and capability of our vessels and our seafarers," CEOof Topaz Energy and Marine René Kofod-Olsen said.

The vessels include a 3,300deadweight ton PSV and a 4,000 deadweight ton PSV, both modern, high-spec boatsequipped with dynamic positioning level 2. The addition of the boats will bringTopaz's fleet size in the Azeri waters of the Caspian to a total of 26 vessels.

Topaz Energy and Marine isa leading offshore support vessel company providing marine solutions to theglobal energy industry with primary focus on the Middle East and the CaspianSea.

It has been operating inthe Caspian since its acquisition of BUE Marine in 2005 and has unrivalledexperience of operating offshore support vessels for some of the world'sleading energy companies in the Caspian Sea.

Headquartered in Dubai with40 years of experience in the Middle East, Topaz operates a fleet of more than90 offshore support vessels of an average age of 7 years.

Topaz is a wholly ownedsubsidiary of Renaissance Services SAOG, a publicly traded company on theMuscat Securities Market, Oman.

ANN.Az