Topaz Signs $160 Million Contracts

Monday, June 27, 2011

Topaz Energy and Marine, an oilfield services group, has recently signed long-term vessel support contracts with prominent clients totaling $160 million.

Topaz’s cable-lay vessel, the "TEAM Oman," has been contracted to ABB for a five-year wind farm support contract plus options. The work will commence in early 2012 and involves a significant upgrade to the vessel which will enable her to carry out all interconnector and repair work in the wind farm industry. This award is in direct continuation of a successful two year charter in the North Sea renewable energy sector for ABB AB, High Voltage Cables.

In the Arabian Gulf, the newly-built anchor-handling tug supply vessel, the "Topaz Khubayb," has been awarded a three-year contract plus options with Saudi Aramco. Topaz operates in Saudi Arabia through a joint venture with the GENTAS Group.

Topaz also recently saw the launch and delivery of the high speed aluminium catamaran crew boat, "Topaz Zenith," to RAK Petroleum Oman Limited. The vessel, constructed by Topaz Ship Building will be deployed supporting RAK Petroleum Oman Limited’s operations in the Sultanate of Oman on a three year contract with additional customer options.

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