BUE Caspian, a wholly owned subsidiary of Dubai-based Topaz Energy and Marine Ltd has announced that it has been awarded prestigious contracts for the provision of three offshore support vessels by BP Azerbaijan (AIOC).
The contracts are for firm periods ranging from 3 to 7 years, with extension options for a further three years. The initial investment of over USD 65 million in vessel construction brings to a total ten new build vessels mobilised to Azerbaijan within a five year period. The potential contract value is estimated to be in excess of USD 210 million assuming that all of the contract options are exercised.
Commenting on the contract Roy Donaldson, General Manager, BUE Caspian said the second deal BP Azerbaijan has awarded Alliance demonstrates the firm’s confidence in our capabilities. Under the terms of the agreement BUE Caspian will supply two Norwegian built Ulstein UT755L Platform Supply Vessels and one Fast Crew Boat presently under construction by Damen in Holland. The three new vessels will complement the existing offshore support fleet with supply and services to the newly constructed East Azeri, West Azeri and Deepwater Guneshli installations.
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