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Topaz wins breakthrough contract in Turkmenistan

Topaz wins breakthrough contract in Turkmenistan

Dubai: Middle East-based Topaz through its subsidiary BUE Turkmenistan has today announced the winning of a $14m contract with MMHE (Malaysian Marine Heavy Engineering). MMHE is operating a JV between Technip and Petronas in the construction and development of the hook up and commissioning of the Magtymguly Collector Riser (MCR-A) offshore Turkmenistan. The scope of work under the contract will include transportation to support the installation of the topside and pipe lay support from MCR-A to the onshore gas terminal.
 
The new contract solidifies Topaz's already leading market position in the Caspian and will involve the company operating seven marine assets worth in excess of $60 million in the Carigali field offshore Turkmenistan. The vessels are three anchor handling tug supply vessels (AHTS), two barges for pipe lay support, one fast crew boat and one towing vessel. Topaz Marine has been active in the Caspian for more than a decade and operates a fleet of circa 70 vessels in Azerbaijan, Turkmenistan and Kazakhstan.

Topaz CEO, Fazel A. Fazelbhoy commented: "This contract award is of tremendous strategic importance to Topaz. Turkmenistan as a gas exporting country has great untapped potential and to establish relationships with two such stalwarts as Petronas and Technip in the Turkmen oil and gas industry is of immense value for the future.'  [26/10/09]

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