Topaz plans major investments in the building of new offshore support vessels in the Caspian region in the next few years, said a top official. Topaz chairman Samir Fancy led a high-level delegation consisting of board of directors and senior management to Azerbaijan in the Caspian region to hold discussions with State Oil Company Azerbaijan Republic (Socar) president, Rovnag Abdullayev in Baku recently, Trend reports.
The aim of the meeting was to explore areas of mutual interest and opportunities for investment in the Caspian region. To support the growing offshore oil and gas market Topaz plans significant investments in the building of new offshore support vessels in the Caspian region in the next few years, providing support services to the offshore upstream energy sector. In total, Topaz will spend $100 million over the next two years expanding its fleet.
Topaz recently announced the opening of a new ship repair facility in Bautino, Kazakhstan due later this year, after completing a feasibility study and conducting an in-depth market assessment of the Caspian region
Topaz Energy and Marine is one of Dubais leading Marine engineering and oil and gas companies.