GMS Bags Work for Two Jack-ups

OE Staff
Thursday, October 21, 2021

GMS, a provider of self‐propelled, self‐elevating support vessels for the offshore energy industries has secured a 12-month or an E Class vessel with an unamed engineering, procurement and construction cliane in the MENA region.

The contract is due to start at the end of December 2021, following completion of the vessel's existing contract.

In addition, an unnamed national oil company has exercised a two‐year option, with an S Class Vessel, on an existing contract committing the vessel for all of 2022 and 2023.

Mansour Al Alami GMS Executive Chairman said: "The award of these two contracts, one of which at a significantly higher rate than its current contract, reinforce the point that we are seeing a tightening of the market and demand for our vessels continues to improve.

These awards, together with other contracts already secured for 2022 and a strong pipeline of additional opportunities, increases our
confidence that the financial performance of the Company will see further improvement into next year."

Categories: Middle East Activity Vessels Energy Rigs

Related Stories

Lebanon Re-launches Second Offshore Oil and Gas Round

First Steel Cut, Name Revealed for Seaway 7's WTIV

Offshore Energy Tech Firm Ashtead Technology Goes Public

Current News

Lottery System to Decide Who Wins Rights to Giant Danish Offshore Wind Farm

Lebanon Re-launches Second Offshore Oil and Gas Round

Thai Oil Firm PTT Expands Pharma Business with $475M Alvogen Deal

U.S. Interior Department Set to Release Federal Oil Leasing Review

Subscribe for OE Digital E‑News