Topaz Energy and Marine has signed contract extensions for 12 of its vessels currently supporting the offshore operations of BP Exploration (Caspian Sea) Ltd. in Azerbaijan, the company said on March 20.
Under the terms of the agreement, seven of the offshore support vessels will be under contract until 2025, three until 2023 and two until 2022. The extended contracts all include a two-year option to extend.
This agreement further enhances Topaz’s robust position and focus in the Caspian Sea and demonstrates the strength of our logistics offering amongst a blue-chip customer base. Our total fleet serving in Azerbaijan currently stands at 21 vessels.
Topaz’s current fleet contracted by BP through this agreement spans large anchor-handlers, platform supply vessels and emergency response and recovery vessels. The vessels will continue to support BP’s work on the Shah Deniz and ACG fields in the Azerbaijan sector of the Caspian Sea.
Argos is set to become BP’s fifth operated platform in the GoM and the first new platform since Thunder Horse began production in 2008, the company said.
Compelling returns at $50 WTI portend bright supply picture.
Who can access spare Appalachia takeaway? This analysis takes a look at how pipeline takeaway capacity will determine which companies can grow production and on which midstream systems.