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Topaz Energy signs $42m Total E&P contract

Dubai, January 13, 2009

Topaz Energy and Marine Limited, a Dubai-based Offshore vessel owner and operator, said its subsidiary had signed a new $42 million contract with oil major Total E&P-Qatar, for two of its drilling vessels.

Under the deal, Total will utilise the two anchor handling tug supply vessels (AHTSV’s) - Topaz Jumeirah and DMS 2000 - for drilling purposes starting from February 16.

With the signing of the contract, the current contract of Topaz Jumeirah and DMS 2000 gets renewed with Total for a period of 2 years with extension options, said a company official.

DMS 2000 has been working with Total- Qatar for the past 2 years while Topaz Jumeirah has been working for the last 6 months.

The contract value for both the vessels including options, is valued at over $42 million and is in direct continuation of their current ongoing contracts.

The two vessels will support the drilling programs of Total in the Al Khalij field in Offshore Qatar and will be operated by Doha Marine Services from their offices in Doha.

“The award of the new contract by Total- Qatar reflects its confidence in the reliability and capability of our vessels and the synergy brought in by two companies-Doha Marine Services and Nico Middle East Limited, now part of the newly-formed entity Topaz Marine Mena, ”said Ron Clark, general manager of Topaz Marine Mena.

Nico Middle East Limited emerged as the winner of 2 awards last year. It won the Seatrade’s Workboats Award in the Middle East and Indian Subcontinent Awards category and the Lloyds list “Safety and Innovation” award.

The awards demonstrate the recognition of Nico Middle East Ltd as a major player in the region offering quality services to different operators in the oil and gas industry.

Topaz Marine, the newly-formed entity within the Topaz Group is one of the largest owners and operators of Offshore Support Vessels in the Middle East.

Topaz Marine Services now owns and operates 96 vessels which includes the fleets of Nico Middle East, BUE Marine and the recently acquired Doha Marine Services.-TradeArabia News Service




Tags: Total | vessels | Topaz Energy and Marine Limited |

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