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BP grants contract extension to 12 Topaz Energy vessels in Azerbaijan

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Essential Energy Insights - January 2021


BP grants contract extension to 12 Topaz Energy vessels in Azerbaijan

Oil major BP PLC granted a contract extension to 12 vessels of offshore energy logistics company Topaz Energy and Marine Ltd. that are currently supporting operations of its subsidiary BP Exploration (Caspian Sea) Ltd. in Azerbaijan, according to a March 20 release.

Seven of the vessels will be under contract until 2025, three until 2023 and two until 2022. Each contract also includes a two-year extension option.

BP contracts Topaz vessels ranging from large anchor-handlers and platform supply vessels to emergency response and recovery vessels, which currently support the oil giant's operations in the Shah Deniz and Azeri–Chirag–Gunashli fields in the Azerbaijan sector of the Caspian Sea.

Financial details were not disclosed.