Bue Marine News

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). 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.

Topaz signs over $65 million of new charters and announces the acquisition of two AHTS. Renaissance subsidiary, Topaz Energy and Marine (“Topaz”), a UAE-based oil field services company, has been awarded two new long term charters, totalling over $65 million, in the GCC and the Caspian Sea, two of the company’s major operating areas. It also confirms the acquisition of Topaz Rayyan and Caspian Reliance, two Anchor Handling Tug Supply Vessel (AHTS). Topaz Rayyan, will be deployed in Qatar on a seven-year, $50 million charter, for an international oil company (“IOC”). The vessel was built in 2006 and was previously owned by Sanko Steamship Co Ltd in Japan. The second AHTS, Caspian Reliance, is to be deployed in the Caspian Sea with a firm contract value of $13.9 million.

German engineers have strengthened the Schottel offering through the development of a propulsor which melds technical design and performance features of the company's proprietary, azimuthing Rudderpropeller series with those of electric podded drives. The resulting hybrid system, known as the Schottel Combi Drive (SCD) and distinguished by its compactness and inboard placement of the integral electric motor, has been designed for unit power applications in the 1,900 to 3,800-kW range. The innovative new product employs proven mechanical elements from the Rudderpropeller design and the latter's optimized-efficiency, Twin-Propeller (STP) version.

Tidewater Inc. will sell its North Sea safety-standby boats to BUE Marine Limited of Edinburgh, Scotland. The $40 million all-cash deal is expected to close by late June. The 28 safety-standby boats were obtained by Tidewater as part of earlier acquisitions. This type of rescue vessel is required for oil and gas entities operating in the North Sea.

Tidewater Inc., operator of the world's largest fleet of vessels serving the offshore energy industry, reportedly agreed to sell its North Sea safety-standby boats to BUE Marine Limited of Edinburgh, Scotland.