Contract
Gulf Marine Services PLC has secured an 183-day contract extension for one of its Small-class vessels in the GCC region, with two further three-month options, for a major National Oil Company. This extension, which supports offshore maintenance operations, reflects continued strong demand for GMS's vessels and contributes to the company's current backlog of USD 659 million, reinforcing fleet utilization.
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Gulf Marine Services (GMS), a leading provider of self-propelled, self-elevating support vessels to the offshore energy industry, is pleased to announce a contract extension for one of its Small-class vessels operating in the GCC region. The extension, awarded by a major National Oil Company in the Middle East under an existing agreement, adds 183 days beyond the current contract period, with two further three-month extension options thereafter. The current backlog stands at USD 659 million.
The extension will see the vessel continue to support the client's offshore maintenance operations without interruption, and reflects the continued strength of demand for GMS's vessels in the region.
Mansour Al Alami, GMS Executive Chairman, commented:
"We are delighted to have secured this extension, which reflects the confidence our clients continue to place in GMS to deliver safe and reliable support for their offshore operations. This extension further strengthen fleet utilization, which remains central to delivery of our objectives."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.