Marine link
 

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 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


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 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 Energy and Marine Secures $550m Facility

Topaz Energy and Marine, an offshore support vessel company, announced a new $550 million facility.   The facility is arranged over three tranches. The first is a conventional and Islamic senior secured, term loan of $350 million over seven years which will be used principally to repay existing senior debt. The second is a senior secured, conventional and Islamic Revolving Credit Facility of $100 million over five years and the third tranche is a senior unsecured conventional and


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, 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


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


Norsafe, VARD Ink lifeboats Supply Deal

Norsafe LHD 60   JYN 57 Photo Norsafe

Norsafe has signed a new contract with VARD Group, and will supply lifeboats complete with davit systems to a series of fifteen new vessels. Topaz Energy and Marine has appointed shipbuilder VARD Group to construct fifteen Module Carrying Vessels (MCVs), each measuring 123m long by 16.5m wide


Navig8 Acquires Chemical Tanker from STX

Photo Navig8

Navig8 Chemical Tankers Inc (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Topaz, a 49,000 DWT IMO2 Interline-coated chemical tanker


Navig8 Chemical Tankers Sees Income Rise

Photo: Navig8 Group

 Navig8 Chemical Tankers Inc reported its net income at $9.6 million, against a net income of $2.9 million seen in the three months ended June 30, 2015.    Continued growth of the company’s operating fleet with the delivery of Navig8 Turquoise, a 49


Two VARD Module Carrier for Topaz Energy and Marine

Module Carrier Vessel for Topaz Energy and Marine Photo VARD

 Vard Holdings Limited has secured a contract for the design and construction of two additional Module Carrier Vessels for Topaz Energy and Marine (“Topaz”). The vessels, of VARD 9 21 design and measuring 123 by 16.5 meters


Topaz Responder Saves Refugee Migrants

The Topaz Responder at work with MOAS. Photo courtesy of Robert Young Pelton  MOAS

Topaz Energy and Marine has emerged as an unlikely player in the effort to save refugee migrants risking their lives on the sea crossing from Turkey to Greece’s islands in order to reach Europe. While Topaz’s new emergency response and rescue vessel, the Topaz Responder


Topaz, BP Ink 14 Offshore Ship Contract

The PSV Caspian Server Courtesy TOPAZ

Topaz Energy and Marine, a leading offshore support vessel company, has secured 14 offshore support vessel contracts with BP Exploration (Caspian Sea) Limited ("BP"). Under the terms of the agreement, Topaz will supply 14 offshore support vessels for a five year period plus two


Topaz to Supply 14 Vessels for BP in Azerbaijan

Photo: Topaz Energy and Marine

Offshore support vessel company Topaz Energy and Marine informs it has secured 14 offshore support vessel contracts with BP Exploration (Caspian Sea) Limited.     Under the terms of the agreement, Topaz will supply 14 offshore support vessels for a five-year period plus two one-year


Topaz Energy and Marine Net $ 20.8m Profit

Photo Topaz Energy and Marine

Topaz Energy and Marine, a leading offshore support vessel company, today announces its results for the year ended 31 December 2015. Business Highlights   * Net Profit for the period was US$ 20.8m before exceptional items, impairment charge of US$71 million on vessels and a one-off


Vard Secures Topaz 15 vessel Contract

VARD 9 21 Overall length 123 m  Breadth approx. 16.5 m  Module Carrier Vessel Courtesy Vard Holdings

Vard Holdings Limited secured a contract for the design and construction of 15 Module Carrier Vessels for Topaz Energy and Marine. The vessels, of VARD 9 21 design, are specially developed by Vard Design to navigate the shallow river systems as they transport modules through the Russian


Vard Back in the Black

OSCV for Farstad under construction at Vard VungTau Photo Vard Holdings

Presenting its financial results for the first quarter ended 31 March 2016 today Vard Holdings Limited announced a net profit of NOK 43 million for the period, as compared to a loss of NOK 226 million a year back. Over the past quarter, VARD had focused on efforts to grow in new markets while


PALFINGER Awarded 15-vessel Winch Contract

Image: PALFINGER MARINE

PALFINGER MARINE Winches and Offshore Equipment has signed a contract for the supply of complete winch packages to 15 Module Carrier Vessels being built for Topaz Energy and Marine.   The vessels, of VARD 9 21 design, are developed by Vard Design to navigate the shallow river systems as


VARD Orders BWT Systems for Topaz Newbuilds

Optimarin Skid 334-FS 2 (Image: Optimarin)

Ballast water treatment (BWT) system Optimarin has picked up an order covering 15 vessels from VARD shipyards.   The vessels, VARD 9 21 Design specialist module carriers, will be constructed for ship owner Topaz at two shipyards in Romania - Vard Braila and Vard Tulcea – and one in


Boat Migrant Rescues Surge as Calm Seas Return to Mediterranean

Ships manned by humanitarian organisations, the Italian navy and the coast guard helped rescue more than 2,000 boat migrants on Thursday as calm seas returned to the Mediterranean prompting a surge in departures.   The Topaz Responder


Norsafe Secures Contract with VARD Group

Image: Norsafe

Norsafe informs it has signed a new contract with VARD Group, and will supply lifeboats complete with davit systems to a series of 15 new vessels.    Topaz Energy and Marine has appointed shipbuilder VARD Group to construct 15 Module Carrying Vessels (MCVs)


BP Awards Bibby Combined Diving Campaign

BibbyTopaz (Photo: Bibby)

Bibby Offshore, a subsea services provider to the oil and gas industry, says it has secured a 15-day project with BP, due to commence in August 2016. The contract will see diving support vessel Bibby Topaz, working on four BP operations across three of its North Sea assets.






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright