Topaz wins US$ 100 million BP contracts

Dubai, UAE - November 25, 2013

Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, today announces the win of two contracts with BP in Azerbaijan’s largest oil and gas fields worth approximately US$ 100 million. Topaz has acquired two European built Platform Supply Vessels (PSVs) to serve the contracts which stretch over five years, including options.

The boats will be deployed in Q4 2013 and Q2 2014 in support of BP’s operations in the Azerbaijan offshore fields of ACG and Shah Deniz 2 performing supply duties.

René Kofod-Olsen, CEO, Topaz Energy and Marine, said:
“These contract awards for additional vessels in Azerbaijan reflect BP’s commitment to our long-term working relationship in the growing Caspian market and their confidence in the reliability, quality and capability of our vessels and our seafarers”.

The vessels are a 3,300 deadweight tonne PSV and a 4,000 deadweight tonne PSV, both modern, high-spec boats equipped with dynamic positioning level 2. The addition of the boats will bring Topaz’s fleet size in the Azeri waters of the Caspian to a total of 26 vessels. Topaz has been operating in the Caspian since its acquisition of BUE Marine in 2005 and has unrivalled experience of operating offshore support vessels for some of the world’s leading energy companies in the Caspian Sea.

About Topaz Energy and Marine
Topaz Energy and Marine is a leading offshore support vessel company providing marine solutions to the global energy industry with primary focus on the Middle East and the Caspian Sea. Headquartered in Dubai with 40 years of experience in the Middle East, Topaz operates a fleet of more than 90 offshore support vessels of an average age of 7 years. Topaz is a wholly owned subsidiary of Renaissance Services SAOG, a publicly traded company on the Muscat Securities Market, Oman.

Topaz Energy and Marine, press release