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Topaz Energy & Marine Awarded $100 million Dragon Oil Contract

08.08.2017
Topaz Energy and Marine (“Topaz”), a leading offshore support vessel (“OSV”) company, today announced a new $100 million contract with Dragon Oil, 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. Under the terms of the contract, Topaz will supply Dragon Oil Turkmenistan with six vessels, comprising five anchor-handlers and one Emergency Recovery and Response Vessel. The contract has already commenced with vessel mobilization and operation ramp-up under way. The contract is scheduled for a five year term with a two year option and brings Topaz’s market leading revenue backlog above $1.5 billion.

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