Fourth Vessel Joins Topaz Energy ERRV Fleet
Topaz Energy and Marine, a leading offshore support vessel company, has bolstered its Emergency Response and Recovery Vessel (ERRV) fleet with the addition of a new vessel, Topaz Responder. The newly-built, state-of-the-art Topaz Responder will primarily provide safety support to offshore installations but is versatile enough to also provide general offshore support services. Constructed to the highest standards, the vessel was built in the ship building yard by Topaz Energy and Marine’s sister company, Topaz Engineering, in Mussafah, Abu Dhabi.
Topaz secures another West Africa contract
Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, today announced a new contract win for its fast growing West Africa operation. Under the terms of the US$ 11 million agreement, Topaz will supply a global oil major with a platform supply vessel, the Topaz Faye, for 18 months to support its offshore production operations. This contract comes on the back of several recent contract wins in West Africa and further strengthens Topaz’s US$ 1.2 billion contract backlog.
Topaz Announces $65M Profit for 2009
Topaz Energy and Marine announced its audited financial results for 2009. Topaz posted revenue of $448 million, EBITDA of $ 127 million and Net Profit of $ 65 million demonstrating year on year growth of 7%, 14% and 38% respectively. The growth in these difficult times clearly demonstrates a resilience that sets Topaz apart from many of its peers. Topaz Energy and Marine is an oil & gas focused marine services and engineering company with a regional footprint across the Middle East and the Caspian.
Topaz Selects ABS Fleet Management Software
Offshore support vessel company Topaz Energy and Marine has selected ABS as its fleet management software provider. Topaz will install the ABS Nautical Systems Fleet Management Software suite on 58 of its core vessels to more efficiently plan for maintenance work, minimize downtime and reduce costs associated with drydocking. René Kofod-Olsen, Chief Executive Officer of Topaz Energy and Marine, said, "We took a substantial amount of time to select the correct fleet management system. It was imperative to select a company that not only has a proven solution in the maritime industry but offers user-friendly products and a fully integrated solution that aligns with our company objectives.
Topaz Adds OSV to Support BP Contract
Topaz Marine, a division of Topaz Energy and Marine recently acquired the Caspian Provider, an advanced Platform Supply Vessel (PSV), to join the company’s fleet on a four-year contract in Azerbaijan with a value in excess of $40m. The Caspian Provider will be working out of Baku, Azerbaijan, on a contract with oil and gas major BP won by Topaz Energy and Marine, in 2008. The Caspian Provider joins four sister ships already under the management of the Topaz Marine Azerbaijan unit. The Caspian Provider is the fourth vessel delivered to the company after construction in the Simek Yard in Norway.
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 Islamic term loan of $100 million, both of which will be used to fund growth capex. The new facility significantly lowers Topaz’s finance costs. The facility will also extend the maturity of Topaz’s debt profile over the next seven years from its previous profile of four 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 Expands Caspian Presence
Topaz Energy and Marine, an offshore support vessel owner with primary operations in the Middle East and Caspian, announced that it has secured new multi-year charters in the Russian Filanovsky project for nine of its offshore support vessels amounting to approximately $20 million. The vessels have been deployed to offshore contractor Saipem and will support the development of the Filanovsky oil and gas field in the Northern Caspian Sea. The vessels will provide anchor-handling and tug services as well as transport of supplies and personnel.
Topaz MOA for $29.5m Vessel Sale
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, today announced the divestment of the Team Siam, a DP2 Diving Support Maintenance Barge to Mermaid Offshore Services Ltd. of Thailand.
Topaz, BP Ink 14 Offshore Ship Contract
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 one-year options at current market terms, primarily in support of BP’s ACG and Shah Deniz II fields offshore Azerbaijan. The agreement extends currently running contracts for the 14 vessels until 2023 including all options.
Topaz to Supply 14 Vessels for BP in Azerbaijan
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 options at current market terms, primarily in support of BP’s ACG and Shah Deniz II fields offshore Azerbaijan. The agreement extends currently running contracts for the 14 vessels until 2023 including all options. These contracts bring Topaz’s global revenue backlog to nearly $1.4 billion.
Topaz to Supply Two PSVs in West Africa
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.
Topaz wins $100-million BP Contracts
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.
Vard Secures Topaz 15 vessel Contract
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 waterways to oilfields in Kazakhstan. Measuring 123 by 16.5 meters, the vessels are designed to carry high deck loads of up to 1800 tons. The vessels will be operated by Topaz through a consortium led by Blue Water Shipping for the end-client Tengizchevroil.
Topaz Announces Leadership Changes
Jay Daga has been named Chief Financial Officer of Topaz Energy and Marine, an international offshore support vessel owner with operations in the Middle East, Caspian and West Africa. Daga will take his position with immediate effect, having been with Topaz for 15 years in a number of finance positions, most recently as Deputy CFO. Topaz noted that Daga led its two latest capital raising initiatives being the company’s $350 million corporate bond issue in 2013 and its recent $75 million equity injection by Standard Chartered Private Equity. Topaz also confirmed the departure of Chief Operating Officer, Roy Donaldson, who joined Topaz in 2005. Geoff Taylor will act as interim COO while the search for a successor is underway.
Topaz Appoints Bayliss as COO
Topaz Energy and Marine announced the appointment of Bill Bayliss as the Chief Operating Officer of Topaz Engineering, the company’s engineering division. Bayliss has been appointed COO of Topaz Engineering, effective immediately. He replaces the outgoing COO Jim Masterton who remains with the company in an advisory capacity. A 20 year veteran of the oil & gas industry, Bayliss has had a successful career with industry names such as KBR and Petrofac. He has joined Topaz to head the engineering division that encompasses fabrication and construction, marine repair, ship building and maintenance services. At the helm of Topaz Engineering, Bayliss will lead a team of more than 5,000 highly qualified staff, spread all over the Middle East and the Caspian Region.
Topaz, Saudi University to Offer Maritime Training
Topaz Marine KSA, a subsidiary of Topaz Energy and Marine, and the King Abdul Aziz University in Jeddah have joined forces to offer training to cadets from the university which allows them to operate as officers onboard sea going vessels. Topaz Marine is the first and currently only offshore support vessel business in Saudi Arabia to sign a letter of intent with the King Abdul Aziz University, a press release from the company said. The company has been working with cadets from the university during their ‘sea-training’ period since the beginning of 2015.
Topaz Secures another West Africa Contract
Topaz Energy and Marine, an offshore support vessel company with primary operations in the Middle East and Caspian, announced a new contract win for its fast growing West Africa operation. Under the terms of the $11 million agreement, Topaz will supply a global oil major with a platform supply vessel, the Topaz Faye, for 18 months to support its offshore production operations. This contract comes on the back of several recent contract wins in West Africa and further strengthens Topaz’s $1.2 billion contract backlog.
Topaz Completes Fujairah Project
Topaz Energy and Marine, through its subsidiary Nico International Hydrospace, part of the newly established Topaz Engineering division, has completed the Vopak Horizon Fujairah Limited Phase 5 – Marine Extension Project. Topaz executed in subcontract to BAM International (formerly known as Interbeton). The project was completed safely without any lost time injury and within the agreed project schedule. The subcontract was awarded in November 2008 and Topaz’s scope for the construction of Berth five and six included detailed engineering of complete piping and mechanical equipment…
Nico Intl. Acquires TEAM
Dubai-based Nico International, the ship repair division of Topaz Energy and Marine SOAG (TEAM), has acquired the Industrial and Marine Engineering Divisions of Fujairah Marine Services & Trading Co LLC (FMS). The acquisition is the first step in a strategic alliance which will link the two companies and which will seek Nico’s current Port of Fujairah capabilities quadruple in size. To date, Nico International has been operating out of Dubai with a diving base in the Port of Fujairah.
Topaz Buys Two Anchor Handling Vessels
Topaz Energy and Marine has announced the acquisition of two large and modern Anchor Handling Towage and Supply Vessels (AHTSV) at a purchase price in excess of $100 million (USD). The vessels, the Caspian Challenger and the Caspian Endeavour, are sister vessels built by Kleven Maritime in Norway in 2008 and 2009, respectively. The vessels are equipped with dynamic positioning DP2, automated safe anchor handing capabilities and are currently the most powerful vessels operating in the Caspian basin at 17,200 BHP and 190 metric tons bollard pull.
Topaz Launches Crew Boat, Kanoo 40
Topaz Energy and Marine Ltd. through its subsidiary Nico Craft has launched a 98.4 ft crew boat named Kanoo 40 for Kanoo Shipping. The crew boat was designed by Teknicraft, New Zealand and all the engineering and construction work was undertaken by Nico Craft in Fujairah. Nico Craft forms a part of Topaz Engineering, the newly formed engineering division of Topaz Energy and Marine. Kanoo 40 is a medium speed catamaran vessel designed to service vessels within a distance of 50 nautical miles from port.
Topaz Successfully Arranges Refinancing
Phase One of US$ 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. The agreement completes phase one of Topaz’s previously announced refinancing initiative. The transaction refinances Topaz’s existing borrowings and releases trapped equity of US$ 60 million. The first phase of US$ 203 million refinancing was arranged and financed by DVB Bank, Standard Chartered Bank, and First Gulf Bank.