DP World Acquires Topaz for $1 Billion

Dubai-based port operator DP World has acquired 100 percent of offshore services provider Topaz Energy and Marine for a purchase price of more than $1 billion. Topaz operates a diversified fleet of 117 offshore vessels predominantly in the Caspian Sea, the Middle East and North Africa, and West Africa regions. DP World highlighted the Caspian Sea region as of particular … [Read more...]

Fourteen Injured in Explosion on Pipelayer in Caspian Sea

Offshore contractor Saipem has confirmed that 14 of its employees were injured in an explosion on board a pipelayer in the Caspian Sea on Wednesday. Saipem said the explosion occurred on the Saipem-operated vessel, Israfil Huseynov, which is conduction pipelaying in the Caspian Sea for the Shah Deniz II project. The comany said the incident was related to maintenance … [Read more...]

Turkmenistan Seeks to Tap into East-West Cargo Flows with New Caspian Sea Port

TURKMENBASHI, Turkmenistan, May 2 (Reuters) - Turkmenistan on Wednesday opened a new $1.5 billion cargo and passenger seaport on the Caspian Sea aiming to boost its export revenues by handling shipping traffic between Asia and Europe. The Central Asian country's main source of hard currency is its gas exports, which took a hit when Russia, once its main customer, stopped all … [Read more...]

Five Injured as Seismic Research Vessel Crashes Into Platform in Caspian Sea

Five people were injured Wednesday when a seismic research vessel crashed into an offshore platform in the Caspian Sea, Azerbaijan's state oil company SOCAR has confirmed. The company said the incident occurred Wednesday at about 13:50 local time at the N.Narimanov (OGPU) offshore oil field. According to Socar, the offshore research vessel Arya 141 was conducting seismic … [Read more...]