DUBAI, UAE, NOVEMBER 28, 2018:

Topaz Energy and Marine (“Topaz”), has been awarded the Intelligence Data Innovation Award at the Lloyd’s List South Asia, Middle East & Africa Awards for Maritime Intelligence. The awards ceremony took place last night at the Palazzo Versace Hotel in Dubai to celebrate excellence in the global maritime community.

Topaz demonstrated exceptional performance in fulfilling the criteria of The Intelligence Data Innovation Award, which recognises a data technology project that has shown innovation in redefining operational excellence and creating new business opportunities in the maritime sector.

In 2017, Topaz undertook a digital project to capture, integrate and analyse vessel data from its 20-strong fleet of new Module Carrying Vessels (MCVs), which were built for a significant marine logistics contract in to Kazakhstan. The MCVs were designed and built to navigate along the Russian Inland Waterways and Caspian Sea, transporting modules from Europe to Kazakhstan’s Tengiz field. The oil field is one of the world’s largest and deepest, with a reservoir measuring 19x21km. With such large-scale operations, the application of real-time data to support safer, faster and more efficient marine logistics was of significant value.

MARTIN HELWEG, CHIEF OPERATING OFFICER, TOPAZ ENERGY AND MARINE, SAID:

“The importance of this project lies in the fact that we took a problem, and offered our customer a solution, as opposed to a standard product. Considering our shift towards a more solution-driven approach, we are delighted that our efforts are being recognised by industry leading organisations. Our approach with the MCVs enabled us to benchmark and improve efficiencies across our global fleet, while delivering value to our clients.”

By harnessing ‘big data’ analytics, Topaz was able to use information on the fleet’s operational efficiency, enabling the crew to make more informed decisions within the supply chain. Furthermore, by using the data to conduct prescriptive analytics, Topaz vessel operators were better equipped for uncontrollable conditions such as wave height, wind speed and temperature, in turn optimizing the planned route and reducing fuel consumption.

RENE KOFOD-OLSEN, CEO OF TOPAZ ENERGY AND MARINE SAID:

“By understanding changing customer needs and by applying a craftsman-like approach, our innovative spirit coupled with years of maritime expertise, we are able to propose and implement solutions that challenge conventional thinking and methods. Our success to date has proven our ability to do that, and we look forward to continuing to move the boundaries for the industry.”

ENDS

ABOUT TOPAZ ENERGY AND MARINE

Topaz Energy and Marine is a leading international offshore support vessel company providing logistics support and marine solutions to the global energy industry with primary focus on the Caspian Sea, the Middle East, West Africa and global Subsea operations. Headquartered in Dubai, Topaz Energy and Marine operates a fleet of about 120 offshore support vessels with an average age of approximately 8 years. Topaz Energy and Marine is a subsidiary of Renaissance, a publicly traded company listed on the Muscat Securities Market in Oman. In addition, Standard Chartered Private Equity holds a minority position in the company.

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