Dubai-based fleet operator Topaz Energy and Marine has signed an agreement with a European contractor to charter its new vessel for offshore wind farms in the North Sea.
The charter contract is for the company’s new subsea vessel Topaz Tangaroa and will take effect from February 2019 for a duration of seven months, with options to extend to late 2020.
The vessel will be deployed for projects in the southern part of the North Sea.
Tangaroa, which was ordered in 2015 as part of an ongoing fleet renewal and reinvestment strategy by Topaz, is a 1,000 m², diesel-electric light subsea construction vessel with accommodation for up to 82 personnel in comfort class 3.
The craft is equipped with a 120 tonne active heave compensation subsea construction crane.
The Tangaroa and its sister vessel, the Tiamat, were designed with, and built by, VARD Norway.
The charter adds to Topaz’s revenue backlog, which as of 30 September 2018 stood at $1.4 bn.
Topaz energy and marine chief executive Rene Kofod-Olsen 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.”
Kofod-Olsen added: “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 and gas and renewable energy sectors.”