Gulf Marine Services nets MENA work

Gulf gain: GMS wins MENA charter

Middle East offshore contractor Gulf Marine Services has been awarded a 12-month charter for maintenance work with one of its self-elevating support vessels.

Chief executive Duncan Anderson said the work would come in direct continuation of the vessel’s current work with another client in the region.

He said the latest win showed “there continues to be a very strong demand for our assets in brownfield oil & gas recovery, well services and maintenance in the MENA region".

Earlier this month, Anderson told Upstream that three major national oil companies — Abu Dhabi National Oil Company, Qatar Petroleum and Saudi Aramco — were “producing a huge amount” of brownfield work that suited the contractor’s type of vessels.

The London-listed services company said Wednesday's charter for one of its K-Class vessels “had come towards the top end of current day rates across the small class vessels”.

The charter, which is for a firm six months with a six-month option, is due to start in the third quarter with an international oil company in the Middle East and North Africa region.

Gulf Marine Services shares were unchanged at £1.60 on London's main market on Wednesday morning.


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