Topaz signs charters worth more than US$65 million

Monday, 13 August 2012 08:34

Oilfield services company Topaz Energy and Marine has been awarded two new charters totalling more than US$65mn for projects in the GCC and Caspian Sea regions

A subsidiary of Oman-based Renaissance Services, Topaz has also acquired two anchor handling tug supply vessels (AHTS) - Topaz Rayyan and Caspian Reliance - for the projects.

Topaz Rayyan, will be deployed in Qatar on a seven-year US$50mn charter for an unnamed international oil company. The vessel was built in 2006 and was previously owned by Sanko Steamship in Japan.

Caspian Reliance is to be deployed in the Caspian Sea with a contract value of US$13.9mn, said the UAE-based firm in a statement.

Both 100-T DP-2 AHTS vessels will undergo a US$2mn upgrade to meet client specific requirements.

Roy Donaldson, chief operating officer of Topaz Marine and Energy, said the addition of these two vessels increases the number of more technologically-advanced DP-2 vessels in the company fleet.

“Our strategic focus on modern technology ensures our vessels meet the standards required increasingly by our major international oil clients. These acquisitions ensure that Topaz’s fleet remains one of the youngest operators in the world,” Donaldson said.

Topaz has been operating under long-term contracts in Qatar for the past five years.