Self-propelled self-elevating support vessels (SESV) firm Gulf Marine Services' newbuild GMS Enterprise is starting its first charter after it was completed ahead of schedule and under budget.
Its first charter is a four-month contract for an engineering, procurement and construction (EPC) contractor working for a Middle- East/North Africa-based national oil company (NOC).
GMS Enterprise, a Large Class vessel, is the first of six new SESVs to be added to the Group’s fleet by 2016, with the new build program increasing the current fleet by 66% from nine to 15 vessels.
GMS constructs its SESVs, also known as jackup barges, at its quayside yard in Mussafah, Abu Dhab. The hull of the next new build, the Mid-Size Class SESV GMS Shamal, is due to arrive at the yard in Q4 2014 and is scheduled for completion in Q2 2015.
A second Mid-Size Class vessel, GMS Scirocco, will be completed in Q3 2015. A third Mid-Size Class, an Enhanced Small Class and a further Large Class vessel are progressing as planned.
The group’s existing vessels are all currently on contracts to support brownfield oil and gas recovery, well services and maintenance work in the MENA region, and oil, gas and renewable energy-related operations in North West Europe.
Duncan Anderson, Chief Executive Officer of GMS, said: ““Demand for our existing assets continues to be very strong with our healthy backlog of USD$ 361 million providing good visibility on future earnings. We are also seeing interest in our new tonnage from both new and existing clients who understand our cost-effective well service and maintenance solutions.”