Gulf Marine Services secures contract extension with a major Middle East NOC

Gulf Marine Services (GMS), a leading provider of self-propelled, self-elevating support vessels to the offshore energy industry, has secured three-year contract extensions with a major National Oil Company (NOC) in the Middle East for two of its vessels. These extensions, secured at enhanced rates, build on an existing agreement, reinforcing GMS’s strong partnership with the client and its continued commitment to supporting the region’s offshore energy operations. GMS secured backlog now stands at $558 million.

“This contract extension highlights the robust and ongoing demand for our vessels in the region, driving consistently high utilization rates across our fleet," commented Mansour Al Alami, GMS Executive Chairman. "It reflects the trust our clients place in GMS’s capabilities and reinforces our strong position in supporting the Middle East’s offshore energy sector."

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).