Topaz Energy secures financing for PSV Caspian Server

Topaz Energy and Marine has raised $23 million to finance the acquisition of the $38-million PSV Caspian Server.

Offshore staff

DUBAI -- Topaz Energy and Marine has raised $23 million to finance the acquisition of the $38-million PSV Caspian Server. The loan was financed by DVB Bank of Germany.

The vessel will be deployed in the Caspian Sea in support of a ten-year $225 million contract for BP.

The vessel will be mobilized from Denmark to Baku in Azerbaijan via the Volga-Baltic canal.

Under the terms of the contract with BP, Topaz Energy and Marine is also constructing an emergency recovery and response vessel (ERRV), three daughter crafts, and an anchor handling tug supply vessel (AHTS). The vessels are scheduled for delivery in 2010.

03/31/2009

More in Rigs/Vessels