September 26, 2016

Topaz secures management contract for 3 vessels

Topaz appointed technical managers in contract worth US$30 million

Dubai, UAE, 26 September 2016: Topaz Energy and Marine, a leading offshore support vessel company, has been appointed the technical managers of three vessels by a consortium comprising Blue Water Shipping A/S and Kazmortransflot (KMTF), in connection with the TCO developed Tengiz oil field in Kazakhstan.

Under the terms of the agreement, Topaz will act as the technical managers for three newly designed Module Carrying Vessels (MCVs). The vessels will commence work in Q2 2018 for a minimum contract period of a little over two years. The vessels will be transporting oil and gas modules to the Tengiz oil field from transshipment bases in Kazakhstan. 

The Tengiz oilfield is operated by Tengizchevroil LLP; a Kazakh partnership that explores, develops, produces and markets crude oil, LPG, dry gas and sulfur. Current partners are: Chevron, 50 percent; KazMunaiGas NC JSC, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent and LukArco, 5 percent. 

About Topaz Energy and Marine

Topaz Energy and Marine is a leading offshore support vessel company providing marine solutions to the global energy industry with primary focus on the Caspian, Middle East, West Africa and Subsea operations in the North Sea and Gulf of Mexico. Headquartered in Dubai, Topaz operates a fleet of 100 offshore support vessels of an average age of 8 years. Topaz is a subsidiary of Renaissance Services SAOG, a publicly traded company on the Muscat Securities Market, Oman. 

For media inquiries, please contact:

FTI Consulting, Dubai
John Hobday, Jon Earl
Tel: +971 (0)4 437 2100

FTI Consulting, London
Ben Brewerton, George Parker
Tel: +44 203 727 1000

For commercial inquiries, please contact:

Commercial Department
Topaz Energy and Marine
Tel: +971 4 440 47 00