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DP World PLC Acquires Topaz Energy And Marine Including Caspian Sea Fleet

DP World PLC acquires Topaz Energy and Marine including Caspian Sea fleet

DP World PLC Acquires Topaz Energy And Marine Including Caspian Sea FleetSource: Constantza Port

Constanta, Romania (PortSEurope) July 4, 2019 – DP World PLC has announced the acquisition of 100% of Topaz Energy and Marine Limited from Renaissance Services SAOG and Standard Chartered Private Equity/Affirma Capital for an enterprise value of $1,079 million, including a fleet of vessels operating in the Caspian Sea.

Topaz is a leading international critical logistics and solutions provider to the global energy industry. The company operates a modern, versatile fleet of 117 vessels, predominantly in the Caspian Sea, MENA, and West Africa regions. The group enjoys a particularly strong position in its core Caspian Sea market. The Caspian Sea is the largest inland body of water in the world, and one of the most strategic oil basins.

Long-term contracts and high barriers to entry characterise the basin, which holds approximately 6% of global oil reserves. Topaz also maintains long-standing relationships with many of the leading international and national oil companies, including BP, Chevron, Dragon Oil, Dubai Petroleum, ExxonMobil and Tengizchevroil.

Around the Black Sea, DP World operates facilities in Constanta, Romania, and Yarmica, İzmit Gulf, in Turkey.

In November 2003, DP World was awarded a long-term concession to operate Constanta South Container Terminal (CSCT) SRL, a facility with excellent deep-draft access located near the entrance to Constanta port. The terminal is acknowledged to be the Black Sea’s premier container terminal, serving both the Romanian domestic market and a wider hinterland spreading into parts of Central Europe, together with first class feeder connections to the Ukraine, Russia, Georgia & Moldova.

DP World Yarimca is one of the largest  container terminals of İzmit Gulf and Turkey with a capacity of 1.3 million TEU

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