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COMPLETED GMS ENTERPRISE COMMENCES FIRST CONTRACT
COMPLETED GMS ENTERPRISE COMMENCES FIRST CONTRACT.
About this update from Gulf Marine Services Plc
[{"type":"text","content":"\n \nRNS Number : 3046S Gulf Marine Services PLC 23 September 2014 \n \n\n \n \nFor Immediate Release \n \n23 September 2014\n \nGulf Marine Services PLC\n(\"Gulf Marine Services\", \"GMS\", \"the Company\" or \"the Group\")\n \nGMS ENTERPRISE CONSTRUCTION COMPLETED ON SCHEDULE AND \nFIRST CONTRACT COMMENCED\n \n \nGulf Marine Services (LSE:GMS), the leading provider of advanced self-propelled self-elevating support vessels (SESV) serving the offshore oil, gas and renewable energy sectors, is pleased to announce that the newly-built GMS Enterprise has been completed ahead of schedule and under budget. Having successfully completed its sea trials, the vessel has now commenced its first charter, a four-month contract for an engineering, procurement and construction (EPC) contractor working for a MENA-based national oil company (NOC), with day rates in line with those previously indicated for the region.\n \nGMS Enterprise, a Large Class vessel, is the first of six new SESVs to be added to the Group's fleet by 2016, with the new build programme increasing the current fleet by 66% from nine to 15 vessels. \n \nGMS constructs its SESVs, also known as jackup barges, at its quayside yard in Mussafah, Abu Dhabi, enabling the Group to deliver high quality assets cost effectively. The hull of the next new build, the Mid-Size Class SESV GMS Shamal, is due to arrive at the yard in Q4 2014 and is scheduled for completion in Q2 2015. A second Mid-Size Class vessel, GMS Scirocco, will be completed in Q3 2015. A third Mid-Size Class, an Enhanced Small Class and a further Large Class vessel are progressing as planned.\n \nThe Group's existing vessels are all currently on contracts to support brownfield oil and gas recovery, well services and maintenance work in the MENA region, and oil, gas and renewable energy-related opera...