UAE-based oil field services company Topaz Energy and Marine said it has been awarded two new long-term charters, totalling over $65 million, in the GCC region and the Caspian Sea, two of the company’s major operating areas.
Renaissance Services subsidiary Topaz Energy and Marine, a leading provider of offshore support vessels, has won a contract from top shipping group GAC to provide completion services for two crew/cargo vessels.
Topaz’s NicoCraft shipyard i
Renaissance Services' board has approved plans to raise new capital to help fund expansion, the Omani oil services company said on Tuesday.
The new capital, which will be worth up to 50 million rials ($129.87 million), will be raised
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-based Renaissance Services, one of the leading offshore vessel operators in the world, said its revenue in 2010 surged to RO253.4 million ($658.3 million) from RO248 million the previous year.
Announcing the 2010 results at the AGM, R
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.
Oman-based Renaissance Services, one of the top ten offshore vessel operators in the world, said its full-year net profit for 2010 soared to RO32.3 million ($83.8 million) from RO28.5 million the previous year.
The net profit for 2010 also
Renaissance Services, an Oman-based multinational oil and gas services provider, said its issue of subordinated mezzanine loan notes worth RO40 million ($104 million) to Omani investors has been fully subscribed.
Mezzanine financing is a
Oman's Renaissance Services signed a $23.5 million loan agreement with Bank Muscat and Bank Sohar to finance business expansion plans, a company statement said on Monday.
'The loan will be used to fund the offshore support vessel f