GMS Bags Two Deals for E-Class Jack-ups

Tuesday, December 21, 2021

GMS, a provider of jack-up service vessels for the offshore energy industry, has secured two new contracts for its E Class vessels.

One E Class (Large Class) award includes a 6-month contract including options, for an unnamed renewables client in northwest Europe, starting in the summer of 2022, where the vessel in question is currently stationed in the North Sea.

The second contract is a shorter-term 5-month contract including options, with an unnamed NOC client in MENA, also where that vessel is based, starting imminently before the end of 2021.  

GMS said it is expected to end 2021 with vessel utilization at 85%.

Mansour Al Alami GMS Executive Chairman said: 2GMS has had a solid year, delivering on expectations, including reporting a profit for the first time since 2016. 

"Our markets continue to improve with day rates on recent contract awards showing healthy increases from legacy contracts, which positions the company well for 2022 and beyond. Given the strong pipeline of opportunities, combined with limited capacity in the market, we fully expect day rates and utilization to improve further throughout next year."


Categories: Energy Middle East Industry News Activity Europe Rigs Shallow Water

Related Stories

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

ABL Secures Rig Moving Assignment with India's ONGC

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

PV Drilling Takes Ownership of Noble Corporation’s Stacked Jack-Up Rig

DOF Secures Moorings Hook-Up Job in Asia Pacific

TotalEnergies Inks 10-Year LNG Supply Deal with South Korea’s KOGAS

Marco Polo Picks Salt Ship Design for Next-Gen Offshore Energy CSOV

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

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