Dubai-based energy logitics operator Topaz Energy and Marine has been awarded contract extensions by BP for 12 of its vessels, currently supporting offshore operations in Azerbaijan.
Under the agreement, seven of the offshore support vessels will be employed until 2025, three until 2023 and two until 2022. The extended contracts all include a two-year option.
The vessels include large anchor-handlers, platform supply vessels and emergency response and recovery vessels.
“Our willingness and ability to commit to long-term contracts with a leading oil major, such as BP, reflects the strength of our partnering approach in the relationship with BP and the value of our differentiated marine logistics offering – I wish to thank BP for their continued confidence in our people and pedigree. This contract extension adds important secured revenue and credit strength to our balance sheet, laying further foundation for a solid 2019 and beyond,” said René Kofod-Olsen, CEO of Topaz Energy and Marine.
Topaz has been a logistics partner with BP in Azerbaijan since 2013, and the company has a total 21 vessels serving in the country.