Nico Middle East, a subsidiary of top offshore support vessel firm Topaz Energy and Marine, saw its revenue $89.4 million in the first quarter, up seven per cent over the previous year.
Announcing the results, the period has seen
Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, has won a new $11 million contract for its fast growing West Africa operation.
Topaz will supply a global o
Dubai-based Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, has announced its West Africa operations with the winning of two PSV contracts worth $50 million.
Topaz Energy and Marine, a unit of Oman's Renaissance Services, has signed the first phase of a $330 million refinancing loan agreement with banks, its parent said in a statement to the bourse on Sunday.
UAE-based Topaz, appointed bank
Oman's Renaissance Services on Tuesday reported a 93 percent drop in its annual profit for 2011 after taking a writedown from a subsidiary and as operating expenses rose.
Renaiassance 2011 net profit was 2.29 million rials ($5.95 million)
UAE-based Topaz Energy and Marine, a leading oilfield services multinational and subsidiary of Renaissance Services, has launched a US$ 380 million financing initiative.
The initiative, led by Standard Chartered Bank and DVB Bank, will inv
Renaissance Services, an Omani multinational oil and gas services provider, said it has completed its investigation into the misappropriation of $2.9 million at its Topaz unit and does not expect to recover any of the funds easily.
Oman's Renaissance Services said it uncovered 'serious' issues at its Topaz unit, including financial misconduct and fraud, as the diversified firm posted a 77 percent plunge in its first-half net profit.
Topaz, which pul
Oman's Renaissance Services aims to raise about $500 million in a London listing of its Dubai-based oilfield services unit and may also divest part of its stake in a secondary offer, it said on Sunday.
Doha Marine Services (DMS), a Renaissance Services subsidiary under the umbrella of its Topaz Marine group, has won a five year vessel contract worth $48 million from Maersk Oil Qatar.
Under the contract, the offshore support vessel Topaz