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Gulf Marine Services extends OSV contracts across Middle East and North Africa

28th July 2014

Gulf Marine Services (GMS) has confirmed that contract extensions have been exercised for two of its Small Class self-propelled self-elevating support vessels (SESV) in the Middle East and North Africa (MENA) region

Gulf Marine Services extends OSV contracts across Middle East and North Africa
The vessel will continue supporting well service work for the client.

"Confirmation of these two contract extensions is further testament to the strong and long-standing relationships we have with our clients in the Middle East,” said Duncan Anderson, chief executive officer of GMS. “The order book for our entire fleet continues to be very healthy, with our assets all currently on contracts to support brownfield oil and gas recovery, well services and maintenance work in the MENA region and North West Europe."

The first extension is for an SESV currently chartered to a MENA-based national oil company (NOC) on a three-year contract (two years firm and an option to extend by one year).  The option to extend the contract for a further year has been exercised effective from Q3 2014.  The vessel will continue supporting well service work for the client.

The second extension is for an SESV currently chartered to a MENA-based NOC on a five-year contract (two years firm and three 12-month options).  It is confirmed that the second 12-month option has been exercised effective from Q4 2014.  This vessel is again supporting well service work.

Related topics: 

OSV

Middle East

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