The Channel A Renaissance Services SAOG Group Newsletter volume 1 issue 12 www.renaissance-oman.com Print less. Save more trees. The Channel is a digital monthly internal newsletter produced by Renaissance Services which aims to reach every employee in each country of our worldwide operations. Please do forward this to your fellow team members and thank you! Early Intervention donation Raising awareness on Autism Upcoming events: Renaissance signs deal with Microsoft Topaz Marine MENA wins silver RoSPA safety award Topaz Marine MENA, a first time nominee, joins the ranks of international companies in the public and private sectors. Safety for the Storm Joseph Placid, Project Manager at CSG operations in Sur, shares the emergency procedures in preparation for Cyclone Phet. Oman Green Awards Oman’s government agencies, businesses, NGOs and institutions partake in the country’s first green award function. Also Inside: Renaissance Q1 Results Renaissance discloses 10% plus growth in net profit of Q1 results. Q2 results Topaz Energy and Marine 2009 Annual Report The latest Topaz Annual Report is available in English through the company website:www.topazworld.com Office Green Team New Renaissance sailboat Oman’s 40th Renaissance Day
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The ChannelA Renaissance Services SAOG Group Newsletter volume 1 issue 12
www.renaissance-oman.com
Print less. Save
more trees.
The Channel is a digital monthly internal
newsletter produced by Renaissance
Services which aims to reach every
employee in each country of our worldwide
operations. Please do forward this to your
fellow team members and thank you!
Early Intervention donation
Raising awareness on Autism
Upcoming events:
Renaissance signs deal with Microsoft
Topaz Marine MENA wins silverRoSPA safety award
Topaz Marine MENA, a first time
nominee, joins the ranks of
international companies in the public
and private sectors.
Safety for the Storm
Joseph Placid, Project Manager at
CSG operations in Sur, shares the
emergency procedures in preparation
for Cyclone Phet.
Oman Green Awards
Oman’s government agencies,
businesses, NGOs and institutions
partake in the country’s first green
award function.
Also Inside:
Renaissance Q1 Results
Renaissance discloses 10% plus
growth in net profit of Q1 results.
Q2 results
Topaz Energy and Marine 2009 Annual Report
The latest Topaz Annual Report is available in English
through the company website:www.topazworld.com
Office Green Team
New Renaissance sailboat
Oman’s 40th Renaissance Day
The Channel - issue 13 - June 2010
Topaz Annual Report
Topaz Marine and Energy, Renaissance’s
largest subsidiary, has published its Annual
Report for the year 2009. The bold theme of “Our
Business in Absolutes”, reflects an unshakable
attitude with no grey areas. On page 2’s
description: “In every part of our business we do
not deal in grey areas and in unknowns, but
instead we focus on the tangible black and white
factors we can control, in the certain paths that
inevitably lead to outstanding value for our stake-
holders. And by working in a world of absolutes,
we never compromise on our principles, such as
safety, performance and good corporate
governance.” Topaz has reached record results
for the ninth consecutive year, including revenues
of US$ 65 million and 38% growth in net profit.
The Marine and Engineering Group’s revenue
amounted to 70% of Renaissance’s total revenue
in 2009.
The Chairman’s Report on business in the first quarter (Q1) of 2010
highlighted new assets which are expected to contribute positive income
streams during the year, particularly for the Marine and Contract Services
businesses, and added that the positive Q1 performance reinforces the
company’s strength and position to deliver growth.
The Chairman’s Report also stated that the company is seeing signs of
reviving E&P activity from major oil and gas producers and operators, and
that while there is increasingly positive visibility in comparison to Q1 of
2009, the company will continue to evaluate merger, acquisition and
investment opportunities in a disciplined approach.
“We currently have Rial 27.9 million (US$ 72.5 million) in cash on the
balance sheet while maintaining all covenants with the financial institutions
that support us. This underlines the enduring stability of Renaissance,” said
Mr. Samir Fancy in the Chairman’s Report.
Renaissance Services announced its unaudited financial results for Q1
of 2010 in April, reporting an increase in net profit to Rial 5.3 million (US$
13.8 million) against Rial 4.8 million (12.4 million) for Q1 last year, from
total revenues of Rial 55.9 million (US$ 145.3 million).
Renaissance discloses 10% plus growth in net profit of Q1 results
Topaz Fabrication and Construction in Fujairah
completed the Vopak Horizon Fujairah Limited
Phase 5 – Marine Extension Project. Topaz
executed this in subcontract to BA M International
(formerly known as Interbeton). The project was
completed safely without any lost-time incidents
and within the agreed project schedule. The
subcontract was awarded in November 2008, and
Topaz’s scope for the construction of Berth 5 and
6 included detailed engineering of complete piping
and mechanical equipment, structural fabrication
and installation, including painting and pre-
commissioning. Bill Bayliss, COO of Topaz
Topaz complete berth construction
Gulf Petrochem has awarded Topaz’s Fabrica-
tion and Construction unit a Rial 17.3 million (US$
45 million) engineering contract to design, procure
and construct a petroleum storage terminal in
close proximity to the Port of Fujairah.
The project is expected to take 17 months to
complete and will have storage capacity of over 1
million cubic meters at single location.
Mott MacDonald, an international manage-
ment, engineering and development consultancy
with over 14,000 people, has been appointed
project management consultant to oversee the
development. The dock pipeline will feature
The Channel - issue 13 - June 2010
Topaz Fabrication and Construction awarded contract
Engineering said, “Topaz has been a partner of Vopak Horizon
Fujairah Limited on several recent projects and we hope to build
on the relationship for future project awards. Because of our
experience operating in Fujairah, a strong HSE track record, and
comprehensive technical capabilities, we’re well placed to deliver
large-scale oil and gas projects in Fujairah.”
Topaz is currently executing several other projects in Fujairah
including EPC contracts for the Port of Fujairah, Fujairah Refinery
and Vopak Horizon Fujairah Limited. With its newly commissioned
30,000 m² fabrication facility in Al Hayl, Topaz aims to capture a
significant share of Fujairah’s future oil storage terminal
construction market.
hi-tech and efficient connectivity systems to the Port of Fujairah
which will add flexibility to the refining and storage of
petrochemicals.
Bill Bayliss, Chief Operating Officer of Topaz Engineering, said
about the contract, “We package international EPC experience,
proven execution capabilities and a rigorous HSE focus to offer
clients a comprehensive, safe and cost-effective engineering
solution. This award once again reinforces Topaz’s competitiveness
in the local terminal market. I would like to express our sincere
gratitude to our client, Gulf Petrochem, for the confidence in Topaz.”
The Renaissance Farr30
A new Renaissance boat has
stirred up a storm in France
where sailing experts and
enthusiasts have been impressed
by the skills of debutant Omani
sailors, many of which have only
had one year’s training, who are
scoring podium results against
sailors with decades of experi-
ence under their belt.
The Renaissance Farr30 class
sailing boat will spend another
month on the French coast in the
Tour de France a la Voile, one of
the major annual sailing races,
before returning to Oman and
benefit the students of Oman
Sail’s schools once the tour is
over.
An article written on a website
called www.sailinganarchy.com
that has a very large European
and American sailing audience
had this to say about the
Renaissance team (see next
page):
The Channel - issue 13 - June 2010
Ask yourself a question: When was the last time you saw this kind of racial mix in a photo
of the winning team at a major grand-prix one-design event?
Assuming that the answer for 99% of you is "never," it's a sad commentary on the lack of
diversity that exists in our sport, but that's even more reason to celebrate this photo of Oman
Sail's victory over 19 other boats at the recent Grand Prix Atlantique de Pornichet. This ain't
no slacker regatta, either; these teams are prepping for the last ever Tour de France à la
Voile in the Mumm/Farr 30, and they're peppered with talent. We're not saying the five Oma-
nis on Oman Sail’s Renaissance are rock stars yet, either - after all, VOR super-stud Rob
Greenhalgh ran the boat while Melges 24 rock star and TdF vet Cedric Pouligny drove - but
clearly, their instructors down in Muscat are doing something right!
Actually, they're doing a hell of a lot right, and right now Oman Sail is, without a doubt, the
model of how to go about forming a national sailing program with laser-beam focus and
clear goals - we even hear that National Governing Body reps from a handful of other coun-
tries have been in touch with Oman Sail for advice on how to freshen up their own programs.
Great news from a great program, and we'll be cheering for them in the upcoming Tour. We'll
also be cheering for past SCOTW Deneen Demourkas and the Groovederci kids, who fin-