Oman- Renaissance mulls selling oil, gas engineering unit

(MENAFN) Renaissance Services announced that it might sell its engineering division business due to dropping sales, reported Times of Oman. The Omani company said that the due diligence process is taking place, and the sale maybe finished by the end of 2012's fourth quarter or 2013's first quarter. The firm added that in mid-2011, it re-organized Topaz Group and Topaz Engineering was divided into Topaz Oil & Gas Engineering Division and Topaz Marine Engineering Division. It is worth noting that Topaz operates chiefly in the Caspian Sea and provides services in Brazil and Africa.