Topaz Energy & Marine chief executive Rene Kofod-Olsen credits the company’s strong focus on the Caspian market for allowing continued growth despite the issues faced by the rest of the Middle East’s offshore sector.

Rene Kofod-Olsen, chief executive of Topaz Energy & Marine Photo: Topaz Energy & Marine

The Caspian market is considered a difficult one to penetrate, with the high costs of positioning and mobilising vessels there serving as a very strong discouragement against operators sending ships in on a speculative basis.