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Topaz delivers $75m oil & gas project

Topaz delivers $75m oil & gas project

Abu Dhabi: Topaz Energy and Marine has delivered the deck structure of a 'Mobile Offshore Production Unit and storage' (MOPUstor) under a subcontract from Single Buoy Moorings Inc for its client, Talisman Energy Norge AS. Topaz's scope of work, worth $75m, was fabrication and construction of the hull and topsides of the MOPU.

The MOPU was constructed in Topaz's Abu Dhabi yard (ADYARD) and is currently being transported to the Norwegian sector of the North Sea. The unit was loaded out onto a heavy lift transportation vessel for the 5,000km trip to Norway. The MOPU will be deployed in the 'Yme' field approximately 110km offshore on the Norwegian continental shelf at a water depth of 92 meters.

Bill Bayliss, Topaz Engineering coo said, "This is the largest project that Topaz Engineering has undertaken and it is probably the single largest offshore unit ever built in the Middle East. We are delighted about what has been achieved by Topaz Engineering. My great appreciation extends to the highly capable construction management team, our entire workforce and of course our client, SBM."

In 2009, Topaz achieved record results for the ninth consecutive year and posted revenue of $ 448m, EBITDA of $127m and Net Profit of $65m demonstrating year on year growth of 7%, 14% and 38% respectively.  [13/09/10]