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Contract Awards
Contract Awards.
About this update from Gulf Marine Services Plc
[{"type":"text","content":"\n \nRNS Number : 6188Y Gulf Marine Services PLC 03 January 2020 \n\n3 January 2020\n \nGulf Marine Services PLC\n('Gulf Marine Services', 'GMS', 'the Company' or 'the Group')\n \nContract Awards\n \nGMS announces the award of two Contracts:\n \n1. A 7-month contract (firm period plus options to extend) for a K-Class (Small) vessel. GMS will provide support for offshore activities on behalf of a Middle East National Oil Company.\n \n2. A 12-month contract (firm period) for an S-Class (Mid-sized) vessel. GMS will provide support for offshore activities on behalf of a Middle East National Oil Company.\n \nSecured utilisation of the entire GMS fleet for 2020 now stands at 73%, which is at higher levels of utilisation than experienced for the full calendar year 2019.\n \nIn total, more than $74m of new contract backlog has been added since August 2019.\n \n \nTim Summers, Executive Chairman, commented:\n\"Momentum is building. These are important contract awards for GMS, continuing to add to our order book for 2020. Secured day-rates for these contracts are firm and are consistent with existing contracts in the region.\"\n \n- Ends -\n \nEnquiries\nFor further information please contact: \n\n\n\n \nGulf Marine Services PLC \nTim Summers \nExecutive Chairman\nTony Hunter \nCompany Secretary\nTel: +44 (0) 207 603 1515\n \n\n\n\n\n\nBrunswick \nPatrick Handley - UK\nWill Medvei - UK\nTel: +44 (0) 20 7404 5959\nJade Mamarbachi - UAE \nTel: +971 (0) 50 600 3829\n \n\n\n\n \nNotes to Editors:\nGulf Marine Services PLC, a company listed on the London Stock Exchange, was founded in Abu Dhabi in 1977 and has become a world leading provider of advanced self-propelled self-elevating support vessels (SESVs). The fleet serves the oil, gas and renewable energy industries from its offices in the United Arab Emirates, Saudi Arabia and the United Kingdom. The Group's assets are capable of serving clients' requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe.\n \nThe GMS fleet of 13 SESVs is amongst the youngest in the industry, with an average age of eight years. The vessels support GMS's clients in a ...