Topaz Secures Kazakhstan Contracts

Topaz Energy and Marine said it has secured contracts in connection with the development of the Tengiz oilfield in Kazakhstan during 2016. The two contract wins announced in the second and third quarter together represent revenue of more than $500 million. The two contracts bring Topaz’s backlog to approximately $1.6 billion.

Under the terms of the main contract awarded by Tengizchevroil (TCO) to a consortium comprising Topaz and Blue Water Shipping A/S, Topaz will commission the construction of 15 Module Carrying Vessels (MCVs). The vessels will be owned and operated by Topaz and will commence work in Q2 2018 for a minimum contract period of three years. Topaz has also been appointed the technical managers of three additional MCVs by a consortium comprising Blue Water Shipping A/S and Kazmortransflot (KMTF).

The Tengiz oilfield is operated by Tengizchevroil LLP; a Kazakh partnership that explores, develops, produces and markets crude oil, LPG, dry gas and sulfur. Current partners are: Chevron (CVX), 50 percent; KazMunaiGas NC JSC, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent and LukArco, 5 percent.