16 December 2004
Nico World, the ship-owning subsidiary of Topaz Energy and Marine SAOG, announced the acquisition of two second-hand Anchor Handling Tug/ Supply (AHTS) vessels from the USA. The two 3,900 BHP vessels were purchased at competitive prices from Louisiana, U.S.A and will be upgraded to meet Nico's demanding standards. The cost of acquiring and upgrading the two vessels is approximately US $ 4.5 million.
Nico World, the ship-owning subsidiary of Topaz Energy and Marine SAOG, announced the acquisition of two second-hand Anchor Handling Tug/ Supply (AHTS) vessels from the USA. The two 3,900 BHP vessels were purchased at competitive prices from Louisiana, U.S.A and will be upgraded to meet Nico's demanding standards. The cost of acquiring and upgrading the two vessels is approximately US $ 4.5 million.
The vessels are scheduled to arrive in the U.A.E. by early April 2005 and after upgrading, expected to be on charter by the end of the 2nd quarter of 2005.
"These multi functional vessels provide an outstanding opportunity for Nico World to increase its fleet size while meeting market requirements" said Gladwyn Mendez, G.M. for Nico World. Increased activity levels worldwide in offshore oil & gas exploration and production has resulted in high occupancy levels for offshore support vessels.
Nico World currently owns and operates a fleet of 11 offshore support vessels for the oil & gas industry and is a wholly owned subsidiary of Topaz Energy and Marine SAOG, a publicly listed company on the Oman stock exchange.
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© Press Release 2005
