Gulf Marine Services, a provider of jack-up support vessels for the global energy industry, said Friday it had won a two-year contract for one of its K-Class (smaller) vessels.
The contract with an unnamed National Oil Company in the MENA region. It will start in May 2022, bringing total secured utilization for the year to 88%.
Mansour Al Alami, GMS Executive Chairman, said: "This contract award further reflects an increase in day rate and utilization levels across the entire fleet, confirming our expectations on a tightening market. GMS continues to strengthen its position, with higher levels of utilization locked in for the year and increasingly into 2023."
Al Alami did not share details on the value of the contract.