Blue Water Shipping-Led JV Bags 350M Dollar Deal from Kazakhstan's Tengizchevroil Investment
Blue Water Shipping-Led JV Bags $350M Deal from Kazakhstan's Tengizchevroil
Blue Water Shipping reported Wednesday that a consortium led by the firm has been awarded a contract with a value in excess of $350 million by Kazakhstan's Tengizchevroil (TCO).
For years, transport and logistics company Blue Water Shipping has managed and operated large and complex transport projects to the Caspian region. The consortium led by Blue Water Shipping also consists of Topaz Energy and Marine. The consortium has signed a contract to build and operate 15 specially designed vessels for an oil project in Kazakhstan for the Tengizchevroil (TCO) joint venture.
Blue Water Shipping’s track record for handling projects to the Caspian Region has been vital for securing the contract, and Blue Water Shipping will among other things be responsible for project management of the 15 MCVs (Module Carrying Vessels) during the TCO project. The vessels are to be built by Vard Shipyard Group at their yards in Romania and Vietnam and operated by Topaz Energy and Marine.
The scope for the vessels is to transport modules and cargo up to 1,800 tons through the Russian river systems to the Tengiz oil field in Kazakhstan.
Tengizchevroil LLP is a Kazakhstani partnership that explores, develops, produces and markets crude oil, LPG, dry gas and sulfur. Current partners are: Chevron, 50 percent; KazMunaiGas NC JSC, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent and LukArco, 5 percent.
“Transport and logistical projects of this type require considerable expertise, and more than 20 years of experience with complex logistics in the Caspian Sea region makes Blue Water Shipping a strong and reliable partner. We are honored and very delighted to have been awarded this contract for TCO. With Topaz Energy and Marine – a leading provider of offshore vessels - we have found a strong and trustworthy partner in executing this complex logistics project”, states Kurt Skov, CEO and founder of Blue Water Shipping.