Vard, Topaz ink $300M vessel contract

Offshore vessel builder Vard has secured a contract for the design and construction of 15 Module Carrier Vessels for Topaz Energy and Marine.

The vessels, of VARD 9 21 design, are specially developed by Vard Design to navigate the shallow river systems as they transport modules through the Russian waterways to oilfields in Kazakhstan.

Measuring 123 by 16.5 meters, the vessels are designed to carry high deck loads of up to 1800 tons. The vessels will be operated by Topaz through a consortium led by Blue Water Shipping for the end-client Tengizchevroil.

Five of the vessels will be built at Vard Braila and four at Vard Tulcea in Romania, while the remaining six will be built at Vard Vung Tau in Vietnam. Delivery is scheduled between 3Q 2017 and 2Q 2018.

The aggregate contract price is close to $300 million.

Topaz currently operates three vessels built by VARD in the Caspian, and has two light construction vessels for international operations on order from VARD. This project strengthens our relationship with Topaz and our foothold in the region.

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