Dubai-based Topaz Energy and Marine, the oil subsidiary of Oman's Renaissance Services is drawing up plans for a possible London listing, according to media reports.

The company is looking to raise "several hundreds of pounds" to expand its businesses in the Gulf and the Caspian Sea, as well as smaller operations in west Africa and Brazil, the Financial Times reported, citing an unnamed source.

The company has appointed JPMorgan Cazenove to prepare a flotation in London, according to a blog posting by Sky News' businesses editor Mark Kleinman, who first reported the news.-Reuters