By Ruth David and Dinesh Nair (Bloomberg) -- Oman’s Renaissance Services SAOG, a service provider to the oil and gas industry, is considering an initial public offering for its Topaz Energy & Marine unit, according to people familiar with the matter. Renaissance, which has a market capitalization of about $379 million, could seek a valuation of about $1.5 … [Read more...]
Vard Books Topaz OSCVs for $100 Million
Offshore shipbuilder VARD says it has lands new contracts for the design and construction of two offshore subsea construction vessels for first-time customer Topaz Energy and Marine for $100 million. According to VARD, the vessels will be developed for crane operations and light subsea construction with intervention duties, measuring a total length of 98.1 … [Read more...]
UAE’s Topaz Eyes South American Expansion Amid Oil Services Struggle
By David French DUBAI, June 24 (Reuters) - Topaz Energy and Marine is eyeing expansion into South America in the next two years as the Dubai-based oil services firm looks beyond the current difficulties in the sector caused by the lower oil price, its chief executive told Reuters. Servicing companies are suffering as producers and explorers cut back on costs and capital … [Read more...]