GMS awards 15-month contract for its E-class vessel

LONDON: Gulf Marine Services (GMS) has announced the award of a 15-month contract  for one of its E-Class (Large) vessels. GMS’s new customer is an international supermajor, for which GMS will provide support for offshore well-work activities.

The work will be undertaken in the Middle East and will commence in January 2020. Secured utilisation of the entire GMS fleet for 2020 now stands at 61%.

Tim Summers, Executive Chairman, commented: “This is the third new contract award for GMS in two months.  It brings a valuable diversification of our customer base and further strengthens our order book for 2020, and beyond.”

Gulf Marine Services PLC, a company listed on the London Stock Exchange, was founded in Abu Dhabi in 1977 and has become a world leading provider of advanced self-propelled self-elevating support vessels (SESVs).  The fleet serves the oil, gas and renewable energy industries from its offices in the United Arab Emirates, Saudi Arabia and the United Kingdom.

The Group’s assets are capable of serving clients’ requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe.

The GMS fleet of 13 SESVs is amongst the youngest in the industry, with an average age of eight years. The vessels support GMS’s clients in a broad range of offshore oil and gas platform refurbishment and maintenance activities, well intervention work and offshore wind turbine maintenance work (which are opex-led activities), as well as offshore oil and gas platform installation and decommissioning and offshore wind turbine installation (which are capex-led activities).

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