Business | Shipping
Topaz Energy and Marine secure $225m contract from BP Azerbaijan
Dubai-headquartered Topaz Energy and Marine Limited announced that its wholly owned subsidiary BUE Marine Limited has been awarded a 10-year, $225 million contract from BP Azerbaijan to custom-build and supply three support marine vessels.
- Staff Report
- Published: 17:16 September 7, 2008
Dubai: Dubai-headquartered Topaz Energy and Marine Limited announced that its wholly owned subsidiary BUE Marine Limited has been awarded a 10-year, $225 million contract from BP Azerbaijan to custom-build and supply three support marine vessels.
BUE beat competition from across the globe for the three-vessel package, which comprises one Dynamically Positioned Platform Supply Vessel (PSV), one Dynamically Positioned Anchor Handling Tug Supply Vessel (AHTS) and one Emergency and Recovery and Response Vessel (ERRV).
Fazel Fazelbhoy, Chief Executive of Topaz Energy and Marine said the AHTS and ERRV will be built specifically for the contract while the PSV will be an acquisition.
"All vessels comply with the most recent International regulations and meet the highest environmental standards," he said.
The Emergency response vessel is capable of providing multi installation safety cover and is the first vessel in the region to be equipped with three daughter craft.
The Platform Supply Vessel will be the first vessel to enter service in the Caspian Sea in early 2009, with the remaining two vessels arriving in mid 2010.
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