Topaz to Supply Two PSVs in West Africa

MarineLink.com
Monday, February 10, 2014

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).


The contracts are to supply one of the world’s leading international oil companies with two 3,300 DWT Platform Supply Vessels to support its offshore production operations. The contracts are worth $50 million including options and bring Topaz’s total contract backlog to approximately $1.2 billion.


The vessels were commissioned by Topaz in 2013 in view of visible demand and in pursuit of Topaz’s strategy of offering clients a modern and technologically advanced fleet of vessels.  The vessels are equipped with the latest technology including dynamic positioning DP2.


The average age of Topaz’s fleet is now 7.1 years against an industry average of around 15 years. The total Topaz fleet numbers 93 excluding four vessels under construction.


René Kofod-Olsen, CEO, Topaz Energy and Marine, said, “As part of our strategy, Topaz is pursuing growth outside of our home markets of the Middle East and the Caspian, with West Africa being one of our key target regions. These are important contracts for Topaz because of West Africa’s strategic significance. We believe we have the right fleet and the management expertise to create a long-term sustainable business in West Africa, always in partnership with local businesses. The region is forecast to see above market growth in industry activity and OSV demand which we hope to capitalize upon.”

 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ISC Profit Slip in Q2 2014 but Pay Dividend

International Shipholding Corporation (ISC) has announced financial results for the quarter ended June 30, 2014, summarized here: Net Loss he Company reported a net loss of $664,

Admiral on U.S. Navy & Asia Pacific Re-balancing Act

The commander of U.S. Pacific Command has briefed Pentagon reporters, discussing the U.S. rebalance to the Asia-Pacific region, successful engagement with partners

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

Technology

There’s Still Time for SHIPPINGInsight Award Entries

Entry submissions for the first SHIPPINGInsight Award are due Friday, Aug. 1, but organizers said they will continue to accept nominations through following week to provide some extra time.

Joint Project Studies Condition-based Engine Monitoring

Classification society ClassNK announced that it will participate in a joint project together with Mitsui Engineering & Shipbuilding Co., Ltd. and MES Technoservice Co.

Resolve Maritime Academy's New Wet Trainer Facility

Resolve Maritime Academy informed it has started building a new, two-story wet trainer, larger and more expansive than its original, the L/V Gray Manatee. “We

Contracts

Asia Dry Bulk Capesize Rates Stay Flat

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability,

ISC Profit Slip in Q2 2014 but Pay Dividend

International Shipholding Corporation (ISC) has announced financial results for the quarter ended June 30, 2014, summarized here: Net Loss he Company reported a net loss of $664,

BMT Oceanica Wins Major Water Corporation Bid

Marine and coastal environment specialist, BMT Oceanica (BMT), a subsidiary of BMT Group Ltd, is delighted to announce that it has won the bid to provide Ocean

Energy

First Panels Installed at Australia’s Biggest Solar Plant

The Australian Renewable Energy Agency today celebrated a major milestone with the installation of the first solar panels at AGL’s large-scale solar plant in Nyngan, NSW.

Exxon Mobil Corporation Declares 3Q Dividend

The Board of Directors of Exxon Mobil Corporation yesterday declared a cash dividend of 69 cents per share on the Common Stock, payable on September 10, 2014 to

FortisBC Set to Expand its Tilbury LNG Facility

FortisBC Energy Inc. today selected Bechtel Canada Co. (Bechtel) as the contractor for its Tilbury LNG Facility Expansion Project in Delta, B.C. (Project). The

News

Quality hat-trick for GAC Marine Logistics

Global ship spares logistics provider GAC Marine Logistics Inc. (GML) has secured ISO certifications in recognition of its Quality Management, Environmental

Hellfire Missile Firing a First for New Navy Helicopters

The Royal Australian Navy’s newest maritime combat helicopter, the MH-60R Seahawk ‘Romeo’, has successfully fired its first ‘Hellfire’ missile in the United States.

BMT Oceanica Wins Major Water Corporation Bid

Marine and coastal environment specialist, BMT Oceanica (BMT), a subsidiary of BMT Group Ltd, is delighted to announce that it has won the bid to provide Ocean

Vessels

Pre-Mooring Safety Inspections at Trieste, Italy

The SIOT/TAL Terminal at Trieste has advised that the TAL Pre-Mooring Safety Inspection program will be modified from 1 September. The checks at road will affect:

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

USCG Cutter Waesche Home from RIMPAC Exercises

The Coast Guard Cutter Waesche has returned to port at Coast Guard Base Honolulu, after spending three weeks at sea participating in Rim of the Pacific (RIMPAC) 2014 exercises,

Dynamic Positioning

Voith to Exhibit High Efficiency and DP Systems at SMM

At this year’s SMM in Hamburg, Voith will showcase propulsion systems and vessel concepts focusing on high efficiency and dynamic positioning even under challenging conditions.

Crowley Christens New DP2 Tugboat

Crowley Maritime Corp. said that the third of four tugboats in the Ocean-class series, Ocean Sky, has been christened in Houston. The ceremony served to formally

Stanford Secures Long Term PSV Charter in Mexico

Stanford Marine announced today from its Dubai headquarters that it has secured a three-year contract for one of its 87-meter Platform Supply Vessels (PSV), Stanford Bateleur, in Mexico.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2030 sec (5 req/sec)