Gulf Marine Services wins new SESV work

Gulf Marine Services (GMS), a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil industry, has won a new contract and a contract extension for two of its vessels. 

The new contract is for one of GMS’ mid-size class vessels. It is scheduled to start immediately, is for 12 months including options, with the vessel supporting a national oil company (NOC) based in the Middle East and North Africa (MENA) region.

In addition, a contract extension has been confirmed for one of the company’s small class vessels chartered to a different MENA-based NOC. The extended period, which has already started, is for 12 months, with a further one-year option period remaining.

Duncan Anderson, Chief Executive Officer at GMS, said: “In the current challenging market conditions our state-of-the-art SESVs continue to offer the most cost-efficient offshore solutions for our clients seeking to extract maximum value from their assets while minimising costs. We are very pleased that our strong client relationships, leading operational expertise and flexibility have enabled us to secure a new contract and a contract extension for two of our vessels.”