February 12th, 2015, Dubai, UAE

Topaz Energy and Marine, a leading international offshore support vessel owner with key operations in the Middle East, Caspian and West Africa is pleased to announce the appointment of Jay Daga as Chief Financial Officer, with immediate effect.

Mr. Daga has been with Topaz for 15 years, holding a number of finance positions of increasing responsibility, most recently as Deputy CFO.

Mr. Daga has successfully led Topaz's two latest capital raising initiatives being the company's US$350 million corporate bond issue in 2013 and its recent US$75 million equity injection by Standard Chartered Private Equity.

Topaz also confirmed the departure of Chief Operating Officer, Roy Donaldson. Mr. Donaldson joined Topaz in 2005. Geoff Taylor will act as interim COO whilst a search for a permanent successor is undertaken. Mr. Taylor joined Topaz in 2013 as Managing Director, Marine Engineering. Prior to joining Topaz, Mr Taylor was CEO of Dubai Drydocks World.

René Kofod-Olsen, Chief Executive Officer of Topaz Energy and Marine, commented on the appointment;

"At Topaz, we take pride in nurturing in-house talent and developing great leaders. Jay has, through his dedication, strategic orientation and results-focused approach, consistently demonstrated the qualities that we value at Topaz. I'm delighted to confirm Jay's appointment as CFO and look forward to benefiting from his contribution as we continue to grow our company.

I would also like to express appreciation to Roy for his many years of service and thank Geoff for stepping in as interim COO."

-Ends-

About Topaz Energy and Marine
Topaz Energy and Marine is a leading offshore support vessel company providing marine solutions to the global energy industry with primary focus on the Caspian, Middle East, West Africa and Subsea operations in the North Sea and Gulf of Mexico. Headquartered in Dubai with 40 years of experience in the Middle East, Topaz operates a fleet of more than 95 offshore support vessels of an average age of 7 years. Topaz is a subsidiary of Renaissance Services SAOG, a publicly traded company on the Muscat Securities Market, Oman.

For media inquiries, please contact:
FTI Consulting, Dubai
John Hobday, Jon Earl
Tel: +971 4 437 2100
Email: topaz@fticonsulting.com

FTI Consulting, London
Ben Brewerton, George Parker, Emerson Clarke
Tel: +44 203 727 1000
Email: topaz@fticonsulting.com

© Press Release 2015