Contract Extension
Gulf Marine Services PLC has confirmed the exercise of a one-year option by a major National Oil Company customer for one of its Small-class vessels operating in the GCC region. This extension, with unchanged terms and conditions, secures the vessel's continued use for another year, supporting offshore maintenance operations and highlighting sustained demand for GMS vessels. The original contract, including this option, was disclosed on November 3rd, 2022.
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Gulf Marine Services (GMS), a leading provider of self-propelled, self-elevating support vessels to the offshore energy industry sector, is pleased to announce that it has received a confirmation from a major National Oil Company customer for the exercise of the one-year option for one of its Small-class vessels operating in the GCC region.
The original contract (including the option) was disclosed on November 3rd, 2022. The exercise of the option secures the continued use of the vessel for a further one-year period, with all existing terms and conditions remaining unchanged.
This extension ensures uninterrupted support for the client's offshore maintenance operations and underscores the sustained demand for GMS vessels across the region.
Mansour Al Alami, Executive Chairman of GMS, stated:
"This option exercise is a strong endorsement of the reliability and value GMS brings to its clients' offshore operations. It reflects not only the trust our partners place in us, but also our team's unwavering commitment to safety and operational excellence - values that continue to set GMS apart in a competitive market."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.