Improved Dayrates: GMS Scores Extensions for Two Jack-ups

Friday, November 12, 2021

GMS, a provider of self‐propelled, self‐elevating support vessels for the offshore energy industry, has won two contract extensions for its jack-ups.

GMS said Thursday the contracts were for a K and S Class vessel and on improved dayrates.

"The extension period on both vessels will commence 1 January 2022, in direct continuance  and run for 12 months on the K Class and 24 months for the S Class vessel. Both vessels are currently carrying out work for an NOC client in MENA," GMS said, without sharing the identity of the client nor the exact contract values.

Mansour Al Alami GMS Executive Chairman said: "The two contract extensions, on improved rates, signal that the market for our vessels, particularly in MENA continues to tighten and that clients are taking action to ensure they have vessel availability to support their ongoing operations. These awards further increase our confidence that the financial performance of the Company will continue to improve in 2022 and beyond."

Categories: Energy Vessels Middle East Industry News Activity Rigs Africa

Related Stories

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

Brownfield Output Decline Accelerates, says IEA

Hanwha Ocean Enlists ABB for Singapore’s First Floating LNG Terminal

Chinese Contractor Secures Offshore Oil and Gas ‘Mega Deal’ from QatarEnergy

DOF Secures Moorings Hook-Up Job in Asia Pacific

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Current News

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com