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New entry in top ten OSV owners league
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Oman entered the top ten of offshore support vessel owners last month with the acquisition of one of the largest marine service groups in Europe with a value of around $150 million.
Using its 100 per cent owned subsidiary in Dubai, Topaz Energy and Marine, Oman’s Renaissance Services group acquired the UK’s BUE Marine.
The combined marine business of BUE and Topaz comprises a fleet of 53 vessels, plus 19 on order. The combined geographical footprint covers the Caspian, South East Asia, the Middle East, and West Africa.
Established in 1991, BUE has historically provided and managed marine support vessels for the offshore oil and gas sector in the North Sea and the Caspian.
BUE operates a diversified fleet of 42 vessels comprising supply vessels, anchor-handling tugs, accommodation vessels, icebreakers, work barges, and utility boats. BUE has another 19 vessels and barges under construction in shipyards.
The value of the company is in the region of $150 million.
Topaz is also in the offshore support vessel business and operates in the Middle East, South East Asia, and West Africa. Topaz includes companies such as Nico World, Nico International, Adyard Abu Dhabi and Mezon Technical Trading.
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