Dubai, 19 October 2010: Topaz Engineering, a division of Topaz Energy and Marine has been awarded a US$ 100 million EPC contract for the Phase IV Oil Storage Terminal for client GPSChemoil in Fujairah, U.A.E.

Through its subsidiary, Nico International Hydrospace, Topaz Engineering has won one of the major tank terminal repeat contracts in Fujairah for GPSChemoil, a partnership between Gulf Petrol Supplies LLC (GPS) and Chemoil. The 580,000 m³ terminal is one of the largest EPC tank terminal projects awarded to Topaz Engineering in the recent past in terms of project value and terminal size. The fully automated storage terminal is equipped with a facility for loading and receiving middle distillates, gas and fuel oil from shipping berths at OT1 and OT2 via eight loading and receiving pipelines running from the jetties to the terminal.

Bill Bayliss, Topaz Engineering COO commented on the project award, "With major ongoing projects in the region, Topaz Engineering has emerged as one of the leaders in the oil and gas industry on the eastern coast of the Emirates, particularly for onshore plant construction works on an EPC basis. The confidence shown by GPSChemoil in Topaz's EPC project capabilities with this award, reflects our successful execution of vital projects on GPSChemoil's behalf."

The scope of work, which is expected to take almost two years to complete, includes complete engineering, procurement of all materials, tanks and critical equipment, and the construction of the entire tank farm. Work will also extend to commissioning and hook up to the existing facilities of the Port of Fujairah and the GPS terminal.

Saif Al Salami, Managing Director of Fujairah National Group and GPSChemoil Director, commented, "GPSChemoil's ongoing investments in Fujairah are reflective of our confidence and commitment to the Emirate's growth and strategic importance to the region. In executing our development plans in Fujairah we consider Topaz Engineering a key partner on account of its efficient and safe project delivery for GPSChemoil in the past."

Sanjay Anand, Chemoil's Managing Director of Asia & Global Logistics and GPSChemoil Director, concluded, "Upon completion of the terminal expansion, the GPSChemoil storage will have a projected capacity of approximately 675,000 m³.  This allows us to be strategically positioned to better serve our customers' increasing demands due to Fujairah's central role within the wider regional and international energy markets."

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About Topaz Energy and Marine
Topaz Energy and Marine is today one of the region's leading oil field services companies, with over 35 years of experience in the Middle East. Topaz is a wholly owned subsidiary of Renaissance Services SAOG, a publicly traded company on the Muscat Securities Market. Operating throughout the Middle East and the Caspian, with vessel operations in North Africa, Europe and S.E. Asia, Topaz employs over 5,200 people. With its operational headquarters in Dubai, UAE, Topaz operates under two primary business divisions - Topaz Marine and Topaz Engineering. Topaz Marine; the offshore support vessels division comprises Topaz Marine MENA, Topaz Marine Azerbaijan, Topaz Marine Kazakhstan and Topaz Marine Turkmenistan. Topaz Engineering comprises Topaz Fabrication and Construction, Topaz Maintenance Services, Topaz Marine Repair and Topaz Ship Building.

For further information on Topaz Energy and Marine:
Kelly O'Connor
Assistant Corporate Communications Manager
Tel: +971 4 440 4730
kelly.oconnor@topazworld.com

© Press Release 2010