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BP re-contracts 14 OSVs from Topaz on long-term charters

BP has extended contracts for 14 OSVs from Topaz Energy and Marine operating in Caspian Sea.

Under the new agreement Topaz will supply 14 OSVs at “current market terms for five years plus two one-year options. The agreement extends existing contracts for the 14 vessels until 2023 i ncluding options.

“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,” said René Kofod-Olsen ceo of Topaz Energy and Marine.

The new contracts bring Topaz’s contract backlog to $1.4bn in revenues. The 14 vessels include large anchor handlers, PSVs and emergency response and recovery vessels.

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