Oman’s Renaissance Services said it has agreed to sell its UAE-based Topaz Oil and Gas unit to the UK’s Interserve for $46 million (Dh168.9 million).
The sale is part of a strategy to focus on its two core businesses: operating marine offshore support vessels and providing integrated support services and facility management services, Renaissance said in a company statement posted on the Muscat stock market website.
Abu Dhabi-based Topaz, which provides oil field maintenance, manufacture and construction services, will help expand Interserve’s “operational footprint in the Middle East oil and gas services market,” Renaissance added.
