Topaz Energy and Marine Limited says higher business volumes and profitability in 2008 have created a strong platform for 2009.
“We grew our marine division significantly last year primarily through the acquisition of Doha Marine Services,” says Fazel A Fazelbhoy, chief executive officer of the company. “With this dramatic entry into the buoyant hydrocarbon market of Qatar, we increased our total fleet size to 96 vessels. The $124-million deal was a major event in our stated strategic intent to increase the size and geographical spread of our offshore support vessel fleet.”
Fazelbhoy said one of the significant highlights of the engineering division was the coming of age of its marine construction business based in Fujairah and Abu Dhabi with a full order book and the delivery of its first commercial vessels. “We now have the capability to construct both steel and aluminium catamarans and single-hull vessels under class society certification,” he said.
Topaz has in total more than 18 boats under construction, all at various stages of completion. Safety has been of prime importance to the company.
The crew of the Emergency Recovery and Response Vessel (ERRV) MV Baki, part of Topaz’s Caspian fleet, successfully conducted a full evacuation of all 211 staff onboard a BP offshore platform in November 2008. In recognition of their work in the complex and dangerous mission, they were honoured with the prestigious BP President’s Award.
Topaz’s subsidiaries Nico International and Nico Middle East were decorated with the Dubai Gold EHS Award and Seatrade’s Award for Best Workboat Company, respectively.
Some of the major projects currently being executed by the company include a $225-million contract awarded by BP in September to Topaz Marine division’s Azerbaijan-based operating company. The company will custom-build and supply three support marine vessels - one AHTS (Anchor Handling Tug Supply), one PSV (Platform Supply Vessel) and one ERRV (Emergency Recovery and Response Vessel). The vessels will operate in the Caspian Sea and the first vessel will enter service in Q1 of 2009. The contract was won in competition with several international players.
Topaz Engineering division’s oil and gas fabrication and construction operation is currently in the later stages of constructing a Mobile Offshore Production Unit (MOPU) for Single Buoy Moorings. The $42-million contract is scheduled to be completed in mid-2009.
During 2008 the company also executed several technically sophisticated oil and gas projects involving modules for FPSOs, LNG loading modules, jackets and topsides.
“These projects reflect the capabilities of Topaz to take on and successfully execute complex and large-scale engineering assignments through its experienced management and engineering team and its large fabrication facilities,” commented Fazelbhoy.
Topaz’s Doha-based ship owning unit secured a $42-million contract with Total E&P, Qatar, with effect from February 16, 2009. Two vessels, both Anchor Handling Tug Supply Vessels, will support the drilling programme of Total in the Al Khalij Field. The contract is in direct continuation of the vessels’ ongoing contracts and stretches over two years with extension options.
“The award echoes Total’s confidence in the reliability and capability of our vessels and the entire Topaz Group,” Fazelbhoy said.
Topaz Energy and Marine Limited is a wholly owned subsidiary of the Omani-listed entity Renaissance Services.             
With its operational headquarters in Dubai, UAE, Topaz will in 2009 operate under two primary business divisions - Topaz Marine and Topaz Engineering. Topaz Marine, the offshore support vessels division, comprises Nico Middle East, Doha Marine Services, Topaz Saudi Arabia, BUE Caspian, BUE Kazakhstan and BUE Turkmenistan. Topaz Engineering comprises Adyard (Abu Dhabi) and Nico International.