Topaz Energy purchases subsea vessels from Norway's Vard Brattvaag

Topaz Energy and Marine has purchased two Subsea vessels from Vard Brattvaag in Norway, which are worth approximately $115 million (USD) and are set to include 120-ton heave compensated offshore crane, capable of reaching depths as low as 3,000 meters below sea level; the vessels were developed for light subsea construction with intervention duties, and they are expected to be delivered sometime in 2017.

The equipment will be placed through a moon-pool or over the ship-side and will be prepared for two remotely operated vehicles. The vessels will be built under the latest Special Purpose Ship (SPS) regulations.

“We have confidence in the growth of the Subsea sector, and accordingly we’re reinvesting in our subsea-capable fleet with these innovative and fit-for-purpose vessels," Topaz Energy and Marine CEO Renã Kofod-Olsen said. "By building in what is a challenging time for the industry, we have minimized costs and believe that, at the time of delivery, the market will have rebalanced sufficiently to be generating healthy demand. These highly capable, energy efficient and cost-effective vessels will benefit Topaz and our global clients immensely."