Wednesday 22 October 2014
 
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Topaz acquires anchor handling vessels for $100m

Dubai, January 22, 2014

Dubai-based Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, said it has acquired two large, modern anchor handling towage and supply vessels (AHTSV) for $100 million.

The Caspian Challenger and the Caspian Endeavour are sister vessels built by Kleven Maritime in Norway in 2008 and 2009, respectively.

These are equipped with dynamic positioning DP2, automated safe anchor handling capabilities and are currently the most powerful vessels operating in the Caspian basin at 17,200 BHP and 190 tonnes bollard pull. They are also capable of deep-water work globally, said a statement from Topaz.

The vessels have been operating as part of Topaz’s Caspian fleet on a bareboat agreement and are currently part of a long-term contract with BP in Azerbaijan, it stated.

The vessels are supporting operations in the Azerbaijan offshore fields of ACG and Shah Deniz performing specialty project work, major rig moves, anchor repositioning and logistical support, said a senior official.

“These vessels have proved themselves as high performers in ourfleet, soit made sense to extend our agreement with the owner to preemptively exercise our purchase optionand make the vessels a permanent part of our fleet at what we believe is an attractive valuation," remarked CEO René Kofod-Olsen.

"These vessels will benefit Topaz and our clients within and outside the Caspian Sea immensely," he added.

Topaz’s fleet size in the Azerbaijani waters of the Caspian is currently 25 vessels. This will rise to 26 when the 4,000 DWT Platform Supply Vessel ‘Caspian Voyager’ joins the fleet in the second quarter of 2014.

Topaz operates in the Caspian Sea through its subsidiary BUE Marine, with unrivalled experience of operating offshore support vessels for some of the world’s leading energy companies.-TradeArabia News Service




Tags: Dubai | Topaz Energy and Marine |

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