Gulf Marine Services wins contract for offshore support vessel in Middle East

Gulf Marine Services (GMS), a leading provider of self-propelled, self-elevating support vessels for the offshore energy sector, is pleased to announce the award of a new contract for one of its small-class vessels in the Gulf Cooperation Council (GCC) Middle East region. The contract spans a total of 18 months, including optional extensions.

Mansour Al Alami, GMS Executive Chairman, commented:

“We are delighted to see continuous demand for all our vessels in a highly competitive market. Maintaining high utilization is key for us to continue to deliver on our objectives. Our backlog now stands at US$503 million.”

About Gulf Marine Services

Gulf Marine Services PLC is a leading provider of advanced self-propelled self-elevating support vessels (SESVs). The fleet serves the offshore energy industries from its offices in the United Arab Emirates, Saudi Arabia, and Qatar.

The GMS fleet of 13 SESVs is amongst the youngest in the industry. The vessels support GMS's clients in a broad range of offshore platform refurbishment and maintenance activities, well intervention work, and offshore wind turbine maintenance work (which are opex-led activities), as well as offshore platform installation and decommissioning and offshore wind turbine installation (which are capex-led activities).

This announcement contains inside information and is provided in accordance with the requirements of Article 17 of the Market Abuse Regulation (EU) No. 596/2014 (as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended).