Dubai port operator acquires Topaz Energy for $1.1 billion

Dubai port and logistics giant DP World said Monday it has acquired Topaz Energy and Marine, an offshore international vessel and marine logistics company for nearly $1.1 billion. Dubai-based Topaz is a subsidiary of Renaissance, a publicly traded firm on Oman's Muscat stock exchange, with Standard Chartered Private Equity holding a minority stake.
Topaz operates a modern fleet of 117 vessels and operates mainly in the Caspian Sea, the Middle East and North Africa, and West Africa, DP World said in a statement. It has long-standing relationships with leading international energy firms like British Petroleum, Chevron, Dragon Oil and ExxonMobil among others.