The contractor’s vessel take-up in the Caspian rose to 98% in the first half of this year, up 5% from 1H 2014, while its overall fleet utilization remained around 85%.
Topaz continues to see high levels of activity offshore Qatar and Saudi Arabia and is confident of securing additional long-term contracts in this area, according to CEO René Kofod-Olsen.
This summer the company also established a division in Angola, received the necessary operating licenses, appointed a country manager and rented office space for three years, allowing it to progress from spot rate contracts to securing medium- to long-term contracts.
“Africa is a long-term strategic investment for Topaz,” he added, “as the offshore market is forecast to grow and clients will increasingly require our services.”
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