Topaz Subsea Newbuild Wins Offshore Wind Work

Topaz Energy and Marine has recently signed a charter deal with an undisclosed offshore contractor for its newbuild subsea vessel, Topaz Tangaroa,

The vessel will be utilized for work on renewable energy projects, primarily in support of offshore wind farms in the southern North Sea.

The charter contract will take effect from February 2019 for a firm duration of seven months, with options to extend to late 2020.

The Topaz Tangaroa, which was ordered in 2015 as part of an ongoing fleet renewal and reinvestment strategy by Topaz, is a sister vessel of Topaz Tiamat, both designed and built by, VARD Norway.

Rene Kofod-Olsen, CEO of Topaz Energy and Marine, said:

“Having recently signed the Topaz Tangaroa’s sister vessel – the Topaz Tiamat – on a long-term contract to Reach Subsea of Norway, it is particularly rewarding that both vessels are leaving the yard to go straight onto significant contracts with strong counterparties. The contracts reflect the trends we are seeing with both general subsea operators and offshore wind project owners becoming increasingly selective and demanding innovative, safer and more efficient vessels.

“This significant contract is a testament to Topaz’s strategic, counter cyclical investment into a growing subsea segment and our ability to deliver the prerequisite technology and safety capabilities our clients increasingly require. This approach has enabled us to forge new long-term partnerships with two new partners, and to strengthen our position in serving clients in both the oil & gas and renewable energy sectors.”