News // Oil and gas worldwide
Topaz secured $100 mln contract for the development of Turkmenistan’s offshore
08 August 2017 , 14:10Neftegaz.RU508
Topaz Energy & Marine has secured a $100 million contract with Dragon Oil to provide 6 offshore vessels for work off Turkmenistan, the company reported on August 8, 2017.
The $100 million contract is for 6 vessels, including an emergency recovery and response boat, is for 5 years with a 2-year option.
The oil services company said that it had already started preparing the vessels for deployment to the Cheleken contract area.
Dragon Oil is the upstream oil and gas subsidiary of Emirates National Oil Company (ENOC), whose principal asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan.
The Turkmenistan area, which is Dragon Oil’s principal producing asset, is in the eastern section of the Caspian Sea with the extracted oil and gas heading to Azerbaijan and Russia.
The company has drilled more than a 100 new wells since the start of its production sharing agreement in 2000, and will maintain its control until 2025, from which time Dragon Oil will have the option to negotiate an extension of at least 10 years or more.
Topaz has been active in Turkmenistan since 2010.
Out of a global fleet of 97 vessels, 62 of Topaz’s OSVs are deployed in the Caspian region, servicing the exploration, development and production needs of major companies such as BP, Chevron, ExxonMobil and Saipem in Azerbaijan, Russia, Kazakhstan and Turkmenistan.
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