Topaz Energy and Marine is a leading oilfield services company providing marine solutions to the global energy industry with primary focus on the Middle East and the Caspian Sea. Headquartered in Dubai with 40 years of experience in the Middle East, Topaz operates a fleet of more than 90 offshore support vessels of an average age of 7 years, well below the global average of 12 years. Topaz is a wholly owned subsidiary of Renaissance Services SAOG, a publicly traded company on the Muscat Securities Market, Oman.
With a modern and technologically advanced fleet, Topaz offers services such as anchor-handling, platform supply, emergency recovery and response, and crew transfer to many blue-chip clients in the offshore oil and gas industry. Topaz's fleet is newer and more advanced than many of our competitors and this has been a key factor behind our high historical utilization rates. We believe that the age and specification of our vessels, particularly regarding standards of safety and reliability, is of increasing importance to our customers as energy production becomes more challenging in harsher offshore environments.
Operating throughout the Middle East and the Caspian, with additional vessel operations in the North Sea, Gulf of Mexico, Brazil, and West Africa, Topaz’s client list includes prominent, international oil and gas companies such as BP, Saipem, Shell, Total, Occidental Petroleum, Statoil, Maersk Oil and many others. Topaz’s track record of operational delivery and reliability has yielded major, consistent contract awards, and long-term relationships with many of these clients.
Through a strategy of diversified exposure to short and medium term contracting in the MENA region and the medium and long-term contracting environment of the Caspian, Topaz has grown its revenue by 27% from 2010 to 2012. Topaz expects to continue to grow through 2013 and 2014 primarily in its key home markets of the Middle East and the Caspian through prudent investments in modern tonnage along with judicious contract selection.
As a company employing over 1,750 staff, attracting and retaining global talent remains one of our highest priorities and is pivotal for realizing our ambitions and building sustainable competitive advantage. Operating across diverse geographies, and working in arduous conditions, the protection of our employees and environment is paramount. We work consciously and diligently to deliver the quality of service our clients expect, whilst continuously improving the health and safety standards of the organization, and Topaz’s excellent HSE track record is a testament to the organization’s focus on these issues.
It is Topaz’s goal to be recognized as a world-class, internationally competitive offshore services company. This shall be achieved through good governance, outstanding HSE, quality and MIS systems, a sustained growth and profit record, and a proven ability to improve the economic well-being and quality of life of all of our stakeholders.
Topaz Jebel Ali setting out to sea