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TOPAZ

Standard Chartered Private Equity invests $ 75 mi in Topaz

The Topaz Installer performs windfarm support services in the North Sea

  Topaz Energy and Marine (“Topaz”), a leading offshore support vessel company with primary operations in the Caspian, Middle East, West Africa and Subsea operations in the North Sea and Gulf of Mexico, today announced a US$75 million new equity investment in the business from Standard Chartered Private Equity (“SCPE”), one of the world’s leading emerging market private equity investors. Under the terms of the investment, SCPE will inject US$75 million of equity in return for a 9.8% stake in the business. The funds will be deployed in support of Topaz’s long-term fleet expansion ambition in its core operational regions and strategic entry to key growth opportunities. “Joining forces with a private equity powerhouse like SCPE will enable Topaz to truly accelerate the realization of our strategic plan,” commented René Kofod-Olsen, CEO of Topaz. “We have now enhanced the foundation from which we can deliver our ambition for further geographical diversification and growth through both organic expansion and acquisitions. SCPE is investing because of its firm belief in the Topaz story, the team and our strategy, and we look forward to working together in close partnership.” Samir J. Fancy, Chairman of Topaz and its parent company Renaissance, said, “On behalf of the Board of Directors, I’m pleased to welcome SCPE on board


Topaz Delivers $75M Oil & Gas Project

Photo courtesy Topaz Energy and Marine

Topaz Energy and Marine announced the project delivery of the deck structure of a Mobile Offshore Production Unit and storage (MOPUstor). The MOPUstor deck was constructed by Topaz Fabrication and Construction; part of the Topaz Engineering division under a subcontract from Single Buoy Moorings Inc for its client, Talisman Energy Norge AS. The value of Topaz Engineering’s portion of the work was $75m.   Topaz’s scope of work was fabrication and construction of the hull and


Topaz Secures $75m Investment from SCPE

Photo courtesy of Topaz

Topaz Energy and Marine, an offshore support vessel company with primary operations in the Caspian, Middle East, West Africa and Subsea operations in the North Sea and Gulf of Mexico, has  announced a $75 million new equity investment in the business from Standard Chartered Private Equity (SCPE), one of the world’s leading emerging market private equity investors. Under the terms of the investment, SCPE will inject $75 million of equity in return for a 9.8% stake in the business


Topaz Successfully Arranges Refinancing

Phase One of US$ 330 million loan agreement signed.   UAE-based Topaz Energy and Marine Ltd. (Topaz), a leading oilfield services multinational and a subsidiary of Renaissance Services, announced that it has signed phase one of a US$ 330 million loan agreement with a syndicate of banks towards the refinancing of some of its existing loans. The deal paves the way for extra liquidity and new investments in Topaz’s Offshore  Support Vessel (OSV) operations.  


Topaz MOA for $29.5m Vessel Sale

Fazel A. Fazelbhoy - CEO Topaz_web.jpg

Topaz Energy and Marine announced it entered into an MOA for the sale of its DP2 Diving Support Maintenance Barge, Team Siam, to Mermaid Offshore Services Ltd. The $29.5m sale is part of Topaz’s ongoing fleet upgrade programme towards new tonnage and a move towards more deepwater assets which is closely aligned with its long-term corporate strategy. The Dubai based marine services and oil and gas fabrication company, Topaz Energy and Marine


L27/38-Powered Vessels to Operate for BP and Topaz Marine

L27-38 Main Engine

MAN Diesel & Turbo’s medium-speed propulsion packages have gained another foothold in Middle Eastern offshore operations.   After successfully completed seatrials, Abu Dhabi-based Adyard has earlier delivered the ‘Topaz Dignity’ – which is now followed by the ‘Topaz Triumph’ AHTS. Topaz Energy and Marine, a subsidiary of Oman-based Renaissance Services SAOG and a regional leader in providing offshore support vessels and engineering services


Topaz, Two New Vessels

Dubai-based Topaz Energy and Marine's Azerbaijan subsidiary, BUE Caspian, has added two new vessels to its offshore vessel fleet at a cost of more than $60m. The two new craft are a platform supply vessel and an emergency response and rescue vessel. Topaz, with a fleet of over 70 vessels, plans to invest $100m in the next two years in new craft as its oil and gas business expands. source: AME Info.


Topaz Awarded $100m EPC Contract

Photo courtesy Topaz Energy and Marine

Topaz Engineering, a division of Topaz Energy and Marine has been awarded a $100m EPC contract for the Phase IV Oil Storage Terminal for client GPSChemoil in Fujairah, U.A.E. Through its subsidiary, Nico International Hydrospace, Topaz Engineering has won one of the major tank terminal repeat contracts in Fujairah for GPSChemoil, a partnership between Gulf Petrol Supplies LLC (GPS) and Chemoil. The 580,000 m³ terminal is one of the largest EPC tank terminal projects awarded to Topaz


TOPAZ Explores Investment in Azerbaijan

A Topaz delegation consisting of Board Directors and Senior Management were in Azerbaijan in the Caspian region to hold discussions with State Oil Company Azerbaijan Republic (SOCAR). The aim of the meeting was to explore areas of mutual interest and opportunities for investment in the Caspian region. To support the growing offshore oil & gas market Topaz plans significant investments in the building of new offshore support vessels in the Caspian region in the next few years


Topaz Buys Two Anchor Handling Vessels

Caspian Challenger

Topaz Energy and Marine has announced the acquisition of two large and modern Anchor Handling Towage and Supply Vessels (AHTSV) at a purchase price in excess of $100 million (USD). The vessels, the Caspian Challenger and the Caspian Endeavour, are sister vessels built by Kleven Maritime in Norway in 2008 and 2009, respectively. The vessels are equipped with dynamic positioning DP2, automated safe anchor handing capabilities and are currently the most powerful vessels operating in the


The Gulf Set to Rival China's Ship Repair Capacity

Christopher Hayman: Photo Seatrade

“The Middle East is a world-class centre of excellence for ship repair with a number of well respected shipyards already offering a diverse range of services. We are seeing new joint ventures between the region and Asia in the dry dock sector


Seychelles Island Learns to Protect the Golden Beaches

Seychelles CG Exercise: Photo EUCAP

A major exercise in implementing the national contingency plan for anti-pollution, search and rescue, and fire fighting has been held in the waters off Mahé, according to joint news from EUCAP Nestor & EUNAVFOR Atalanta. The scenario began with a mock distress call to the Coast Guard


Viking to Upgrade, Service Topaz Life Rafts

Caspian Protector

Topaz Energy and Marine, an offshore support vessel (OSV) company, and marine and fire safety equipment company VIKING Life-Saving Equipment has jointly announced the signing of a multimillion dollar, 10-year life-raft servicing agreement. Under the terms of the contract


Topaz announces departure of CFO

Pernille Fabricius, Chief Financial Officer, Topaz Energy and Marine

  Topaz Energy and Marine, a leading offshore support vessel company today announced that its Chief Financial Officer, Pernille Fabricius, is leaving the company. Ms. Fabricius leaves with the Chief Executive and Board of Directors’ best wishes and appreciation of her time with the


Topaz Reports Revenue up 7%

Photo courtesy of Topaz

Q1 2014 revenue up 7% over Q1 2013 to US$ 89.4 million as a result of the expansion of the core vessel fleet and high vessel utilization. Topaz Energy and Marine has announced the results of its subsidiary Nico Middle East Ltd. (“NMEL”) for the three months ended 31 March 2014


Topaz secures another West Africa contract

Topaz-faye DP2 platform

Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, today announced a new contract win for its fast growing West Africa operation. Under the terms of the US$ 11 million agreement


Topaz Secures another West Africa Contract

The Topaz Faye

Topaz Energy and Marine, an offshore support vessel company with primary operations in the Middle East and Caspian, announced a new contract win for its fast growing West Africa operation. Under the terms of the $11 million agreement, Topaz will supply a global oil major with a platform supply


Topaz Revenue up 22%

topaz.png

Topaz Energy and Marine, a offshore support vessel company, announced the results of its subsidiary Nico Middle East Ltd. for the 12 months ended December 31, 2013. The period has seen continued strong and profitable growth across the group’s activities with revenues up 22% and EBITDA up 17%


Topaz Reports NMEL Results

2013 revenue up 22% over last year to $376.5 million as a result of the expansion of the core vessel fleet and high vessel utilization Topaz Energy and Marine, an offshore support vessel company, announced the results of its subsidiary Nico Middle East Ltd


Bulletproof Crewboats Delivered in Nigeria

Photo: Incat Crowther

Incat Crowther is pleased to announce that Veecraft Marine has delivered a pair of 20m Monohull Crewboats and signed a contract to build a 30m Wave Piercing Catamaran Crew Boat. Hot on the heels of delivering Magen Defender and Masud Defender


Topaz to Supply Two PSVs in West Africa

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Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, has announced the expansion of its West African operations with the award of two PSV contracts worth $50 million (USD).


Palfinger Delivers Two Offshore Cranes

Archer, the global oilfield service provider, has secured a contract with Statoil for the permanent plugging and abandonment of 12 gas wells on the Heimdal field in the Norwegian North Sea. Archer has selected the German rig manufacturer MAX STREICHER GmbH & Co. KG aA for its VDD 400


Three Crewmen Rescued from Vessel Blaze

ECC Topaz (Photo courtesy East Coast Charters, Ltd.)

Three crewmen have been rescued off Lowestoft this afternoon after their vessel caught fire in the North Sea. Humber Coastguard coordinated the rescue operation after the crew abandoned the ECC Topaz 10 nautical miles east of the town.


Windfarm Service Ship Burns, Sinks; Three Crewman Saved

Three crewmen have been rescued off Lowestoft this afternoon after their vessel caught fire in the North Sea, the Humber Coastguard reported. Humber Coastguard coordinated the rescue operation after the crew abandoned the ECC Topaz 10 nautical miles east of the town


Topaz wins $100-million BP Contracts

Caspian Supplier.jpg

Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, today announced the win of two contracts with BP in Azerbaijan’s largest oil and gas fields worth approximately $100 million (USD)






 
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