Topaz Energy and Marine to supply additional vessels to Azerbaijan’s large oil and gas fields

Baku, Azerbaijan, Nov. 25 By Aygun Badalova - Trend: Leading offshore support vessel company Topaz Energy and Marine, has won two contracts worth $100 million from BP for supply of additional vessels to Azerbaijan's large oil and gas fields, Trade Arabia news website reported. According to Topaz, it has acquired two European built Platform Supply Vessels (PSVs) to serve the contracts which stretch over five years, including options. The boats will be deployed in the fourth quarter of 2013 and the second quarter of 2014 in support of BP's operations in Azeri-Chirag-Guneshli field block and the second phase of Shah Deniz field development performing supply duties. The vessels include a 3,300 deadweight tonne PSV and a 4,000 deadweight tonne PSV, both modern, high-spec boats equipped with dynamic positioning level 2. The addition of the boats will bring Topaz's fleet size in the Azeri waters of the Caspian to a total of 26 vessels. Topaz Energy and Marine is a leading offshore support vessel company providing marine solutions to the global energy industry with primary focus on the Middle East and the Caspian Sea. Headquartered in Dubai with 40 years of experience in the Middle East, Topaz operates a fleet of more than 90 offshore support vessels of an average age of 7 years. Topaz has been operating in the Caspian since its acquisition of BUE Marine in 2005 and has unrivalled experience of operating offshore support vessels for some of the world's leading energy companies in the Caspian Sea The contract for the development of the Azeri-Chirag-Guneshli large offshore field was signed in 1994. Shares are distributed as follows: BP (operator at Azeri-Chirag-Guneshli) - 35.78 per cent, Chevron - 11.27 per cent, Inpex - 10.96 per cent, AzACG - 11.65 per cent, Statoil - 8.56 per cent, Exxon - 8 per cent, TPAO - 6.75 per cent, Itochu - 4.3 per cent and ONGC - 2.72 per cent. The contract for development of the Shah Deniz offshore field was signed in June 1996. The agreement's participants are: BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, Lukoil - 10 percent, TPAO - nine percent, SOCAR - 10 percent.