GMS wins Abu Dhabi job

Abu Dhabi

ABU DHABI, January 4, 2017 – Gulf Marine Services (GMS) on Tuesday announced the award of a three-year charter contract for a mid-size vessel for one of Abu Dhabi’s NOCs, the company said in a press release.

The contract is set to begin in Q1 2017. The value of the contract remains undisclosed. GMS sees the award of the long-term contract, and earlier contracts awarded in Q3 2016 contracts, as a sign of positive improvement in the market.

“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. 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,” the company wrote.

In August 2016, GMS announced the signing of two new 12-month contracts. One sees the company deploy a mid-sized vessel, servicing a national oil company in the MENA region. The other contract is an extension of an existing deal. In both cases the fee and client remain undisclosed.

The largest provider of the self-elevating support vessels (SESV) in the world, GMS was founded in Abu Dhabi in 1977.