Renaissance Subsidiary News

Renaissance subsidiary, Topaz Marine Engineering (“Topaz”), a UAE-based full service ship building, ship repair and engineering services company, confirms it has been commissioned by the Kuwait Oil Company (“KOC”) to design, build and deliver 10 Fast Steel Crew /Pilot Boats of 22m LOA (“Crew/Pilot Boats”), market estimates believe the contract value to be in the region of US$50 million. With a focus on high technology and latest design, the Crew/Pilot boat will be designed to accommodate 30 crew, with passengers all seated on the main deck and will be provided with first quality equipment.

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.

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.

The UAE-based full service ship building, ship repair and engineering services company, Topaz Marine Engineering confirms it has been commissioned by the Government of Sharjah – Al Diwan Al Amiri to build and deliver one Catamaran passenger ferry boa. With a focus on passenger luxury and efficiency, the catamaran will be designed to accommodate 40 people, with passengers all seated on the main deck. It will be used to transport people between mainland Sharjah and the Abu Musa Island, situated 70 kilometres offshore.

Renaissance announced that its Abu Dhabi based oil & gas subsidiary Adyard LLC was recently awarded a $35m contract by Single Buoy Moorings Inc. The contract is for the fabrication of a Mobile Offshore Production Unit for to be located on the YME Field in the Norwegian sector of the North Sea. The contract entails the fabrication and load out of the Hull, Topsides and related works. The process equipment will be fabricated in modules and installed on the hull at the Adyard jetty. The work will be executed at Adyard's 140,000 sqm water front facilities located in the Mussafah industrial area of Abu Dhabi over an 18-month period. Single…