BP Signs for 12 Offshore Support Vessels Through to 2025

BP Extended Contract for 12 Offshore Support Vessels Provided by Topaz in Azerbaijan

Topaz Energy and Marine, an offshore energy logistics company, announced the contract extensions, seven of the offshore support vessels will be under contract until 2025, three until 2023 and two until 2022.

Vessels are currently supporting the offshore operations of BP Exploration in Azerbaijan.

“Our willingness and ability to commit to long-term contracts with a leading oil major, such as BP, reflects the strength of our partnering approach in the relationship with BP and the value of our differentiated marine logistics offering – I wish to thank BP for their continued confidence in our people and pedigree. This contract extension adds important secured revenue and credit strength to our balance sheet, laying further foundation for a solid 2019 and beyond.

The Caspian has been a strategic region for Topaz for more than two decades and this agreement in Azerbaijan demonstrates our commitment to building on our existing position supported by our highly-valued partners in the country,” said, René Kofod-Olsen, Chief Executive Officer, Topaz Energy and Marine.