Topaz Energy and Marine, is a subsidiary of Renaissance Services SAOG, has announced the renewal of its long standing contract with Swiss electrical giant ABB for the ‘Topaz Installer’, Topaz’s specialised cable laying vessel. Under the terms of the contract, the Topaz Installer will provide ABB with cable-laying services in support of wind farms in the North Sea for a period of one year plus options of at least 12 months. The contract was first signed in 2010. Our view: We do not expect this news to make any impact on our estimates as it is a renewal of an existing contract. (Sameer Kattiparambil, Oman Observer) Renaissance: OMR0.250 as of 4 September 2016, Rating: Sell, FV: OMR0.226/share, MCap: USD186mn, RNSS OM / RSC.OM
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