Topaz Energy and Marine is expanding its operations in West Africa, following two PSV contracts worth a combined $50m.

The contracts will supply services from two 3,300 dwt PSVs to an undisclosed “leading oil company”. The vessels are equipped with DP2 functionality.

The move is typical of recent investment in the African offshore market, which has been keeping pace with development in other sectors.

René Kofod-Olsen, ceo Topaz Energy and Marine, highlighted the region’s “strategic significance” saying: “As part of our strategy, Topaz is pursuing growth outside of our home markets of the Middle East and the Caspian, with West Africa being one of our key target regions.

“We believe we have the right fleet and the management expertise to create a long-term sustainable business in West Africa, always in partnership with local businesses. The region is forecast to see above market growth in industry activity and OSV demand which we hope to capitalise upon.”

Topaz now has four vessels under construction, with 93 vessels in its fleet.