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

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

Current News

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

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

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

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