Gulf Marine Services (GMS), a provider of jack-up support vessels for the global energy industry, has signed the first of a two-phase contract for one of its vessels operating in the Middle East.
GMS said it also received a Letter of Award, relating to the second phase of this four-year contract, without disclosing additional details about the vessel or the client.
According to Mansour Al Alami, GMS’ Executive Chairman, the two phases of this contract shall elevate the company’s backlog to $463 million, representing 3.1 times our 2023 revenue and instilling greater confidence in our attainment of our targets
"The higher rate at which this contract has been awarded underscores the ongoing strength in demand for our vessels across the various markets in which we operate.
“Additionally, the contract for the project's second phase, also granted to GMS in the Letter of Award, is currently in the final stages of processing and will be announced independently,” said Al Alami.