UAE's Topaz Energy and Marine Limited secure US$ 225million contract from BP in Azerbaijan.Summary: Dubai-headquartered Topaz Energy and Marine Limited announces that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. BUE BUE Buenos Aires, Argentina (Airport Code) BUE British University In Egypt (El Sherouk, Egypt) BUE Built Up Edge (type of defect in machining) Marine Limited has been awarded a ten year, US$225 million contract from BP Azerbaijan to custom-build and supply three support marine vessels. UAE's Topaz Energy and Marine Limited secure US$ 225million contract from BP in Azerbaijan Ten year contract covers three support marine vessels Dubai-headquartered Topaz Energy and Marine Limited announces that its wholly owned subsidiary BUE Marine Limited has been awarded a ten year, US$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 Platform supply vessel (often abbreviated as PSV) is a ship specially designed to supply offshore oil platforms. These ships range from 65 to 350 feet in length and accomplish a variety of tasks. (PSV PSV (in Britain, formerly) public service vehicle ), one Dynamically Positioned Anchor Handling Tug Supply Vessel Anchor Handling Tug Supply (AHTS) vessels can supply oil platforms, tow them to location, anchor them up and, in a few cases, serve as an Emergency Rescue and Recovery Vessel (ERRV). (AHTS AHTS Anchor Handling Tug Supply AHTS Anchor Handling Towing Supply Vessel AHTS Anchor Handling Tug Support (vessel) ) 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. "The award of this contract, against strong International competition, is a 'vote of confidence' in our capabilities and commitment to the highest standards of Health Safety Security and Environmental Quality (HSSEQ)," he said. "It follows the award of another long term three vessel contract by BP to BUE Marine in 2007 and reinforces Topaz's position as the leading provider of Marine support Services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services in the Caspian Sea region." All vessels comply with the most recent International regulations and meet the highest environmental standards," he said. "The Emergency response vessel (ERRV) 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. Since it's acquisition of BUE Marine three years ago, Topaz has significantly grown it's marine operations in the area, predicated on it's strong service culture, commitment to operating to the highest safety standards and it's stated aim of providing value growth to it's parent Company. Topaz Marine and Energy is a wholly Owned subsidiary of Renaissance Services SAOG SAOG Sachse Assembly of God (Texas church) SAOG Satellite Operations Group SAOG Société Anonyme Omanaise Générale (Oman) SAOG Samoan Assemblies of God which is a publicly listed Company in Oman. Topaz owns and operates over 100 offshore support vessels and is the largest Marine support vessel company in the Middle East. 2008 Al Bawaba (www.albawaba.com) 2008 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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