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    Topaz enters into MOA with Mermaid Offshore Services for vessel sale

    Vessel & ROV News // January 12, 2010

    Topaz Energy and Marine has announced that it has entered into an Memorandum of Agreement (MOA) for the sale of its DP2 Diving Support Maintenance Barge TEAM Siam to Mermaid Offshore Services Ltd.

    The US$29.5 million sale is part of Topazís ongoing fleet upgrade programme towards new tonnage and a move towards more deepwater assets which is closely aligned with its long-term corporate strategy.
    TEAM Siam has been on charter to Mermaid Offshore for over four years. 

    Fazel A Fazelbhoy, CEO at Topaz, said: "Topaz received a compelling offer from Mermaid because they see value in the vessel; itís a win-win for both sides. To Topaz the sale represents a good opportunity to book a capital gain and redeploy cash on new and modern deepwater assets in line with our strategic plan."


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