Topaz Energy and Marine, an offshore support vessel company, has secured 14 offshore support vessel contracts with BP in Azerbaijan.
Under the terms of the agreement, Topaz will supply 14 offshore support vessels for a five year period plus two one-year options at current market terms, primarily in support of BP’s ACG and Shah Deniz II fields offshore Azerbaijan.
The agreement extends currently running contracts for the 14 vessels until 2023 including all options. These contracts bring Topaz’s global revenue backlog to nearly $1.4 billion.
Topaz’s fleet contracted by BP through this agreement spans large anchor-handlers, platform supply vessels and emergency response and recovery vessels.
René Kofod-Olsen, Chief Executive Officer, Topaz Energy and Marine, said, “We are humbled by BP’s continued trust in our capabilities and look forward to repaying that confidence by consistent world-class service.
“The agreement provides a long-term platform from which to build further scale in the broader Caspian and adds significantly to Topaz’s credit strength through tremendous revenue visibility.”