A Review of the Nigerian Energy Industry

Topaz lands PSV deal in West Africa

Oil+rig10 February 2014, News Wires – Offshore support player Topaz Energy & Marine has landed a pair of platform supply vessel (PSV) contracts from a major in West Africa worth $50 million.

The Dubai-based vessel owner said that it would use two PSVs it ordered speculatively last year to service the two charters with “one of the world’s leading international oil companies”.

Chief executive Rene Kofod-Olsen said the new charters were “important contracts for Topaz because of West Africa’s strategic significance” as the company seeks to expand from its traditional bases of the Middle East and the Caspian.

“The region is forecast to see above-market growth in industry activity and offshore support vessel demand which we hope to capitalise upon,” he said.

The contracts for the DP2 dynamically-positioned, 3300 dead-weight tonnage vessels are worth $50 million including all options and take the company’s order backlog to around $1.2 billion.


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