An offshore port in a storm

The extreme temperatures and shallow waters of the Caspian Sea combine to create a harsh operating environment. However, Kazakhstan’s Kashagan oilfield is providing a bountiful source of revenue for Renaissance Services, a small but ambitious Omani offshore services company.

Renaissance is servicing the offshore Kashagan development – one of the world’s largest hydrocarbon projects – with almost 50 of its specialised support vessels and barges. Lucrative contracts in Kazakhstan and nearby Azerbaijan are allowing Renaissance to breathe easier than many Gulf companies amid the fierce economic headwinds.

The company’s main business remains in Oman, where it also has a large engineering division which repairs and manufactures energy industry components, among other businesses.