BP buys 14 offshore support vessels for use in Caspian Sea

Baku. 3 March. REPORT.AZ/ Topaz Energy and Marine secured a contract with a unit of BP (BP.L) to supply 14 offshore support vessels in the Caspian Sea for up to seven years, the Dubai-based oilfield services firm said in a statement on Thursday. Report informs, information was spread by Topaz Energy and Marine.

The contract with BP Exploration (Caspian Sea) Limited runs for five years, with two one-year extensions at current market terms, and will primarily support the ACG and Shah Deniz II fields offshore Azerbaijan, it said.

No value for the contract was given in the statement. However, based on the company's average day rate for its core fleet disclosed in its third-quarter results, it would be worth around 541 million USD if both extensions are exercised, according to Reuters calculations.

Topaz will supply large anchor-handlers, platform supply vessels and emergency response and recovery vessels under the contract, the statement added.