Dubai’s Topaz Energy and Marine has seen its profit slip in the second quarter of 2014 following a decrease in revenue.

Net profit for the period was $12.7m, down from $17m in the same spell last year.

Revenue fell by 5.6% to $95.9m due to a temporary dip in Caspian project activity.

Direct costs were reduced to $52.2m from $60.7m, while EBITDA was $48.4m,