GMS Secures New Long-Term Contract Award with NOC

Gulf Marine Services, a support vessel provider serving the offshore oil sector, announced Tuesday a new long-term contract award for one of its mid-size class vessels.

The new charter is for three years (including options) and is scheduled to commence in early 2017. The vessel will be supporting well intervention activities for a national oil company (NOC) in the MENA region.

"As we recently reported, we are seeing an increase in tender opportunities in the Middle East and our strategy to provide flexible and cost-effective offshore support solutions has proved pivotal in winning this long-term contract,” GMS CEO Duncan Anderson said.

“The new charter, which together with other recent contract wins has increased our total backlog by approximately two-thirds since 1 November 2016, demonstrates that the market is showing clear signs of recovery. This contract win has also further strengthened our business relationship with a strategic NOC client and improved our current geographic diversity,” he added.



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