Middle East

Topaz wins $50m PSV deal in West Africa

Dubai: Offshore support firm Topaz Energy and Marine has announced the expansion of its West African operations with the award of two PSV contracts worth $50m.

The contracts are to supply one of the world’s leading international oil companies with two 3,300 dwt PSVs to support its offshore production operations.

“As part of our strategy, Topaz is pursuing growth outside of our home markets of the Middle East and the Caspian, with West Africa being one of our key target regions. These are important contracts for Topaz because of West Africa’s strategic significance. We believe we have the right fleet and the management expertise to create a long-term sustainable business in West Africa, always in partnership with local businesses. The region is forecast to see above market growth in industry activity and OSV demand which we hope to capitalize upon,” said René Kofod-Olsen, ceo of Topaz Energy and Marine. [11/02/14]

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