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    Topaz adds new PSV in support of BP contract

    Vessel & ROV News // September 27, 2011

    Caspian Provider will got to work shortly on behalf of BP.

    Topaz Marine, a division of Topaz Energy and Marine, recently acquired Caspian Provider, a PSV, to join the company’s fleet on a four-year contract in Azerbaijan with a value in excess of US$40 million.

    Caspian Provider will be working out of Baku, Azerbaijan, on a contract with oil and gas major BP won by Topaz Energy and Marine in 2008.

    Caspian Provider joins four sister ships already under the management of the Topaz Marine Azerbaijan unit.

    Caspian Provider is the fourth vessel delivered to the company after construction in the Simek Yard in Norway. The vessel was ordered in 2010 at a cost of US$32 million and is expected to generate exceptional value for the fleet.

    Caspian Provider will commence a charter with BP on completion of modification work. Topaz Energy and Marine is strategically positioned in the Caspian Sea where the company benefits from a market share of 55 per cent in Azerbaijan.


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