LogIn LogOut

GMS Wins Contracts for Three Jack-ups at 'Improved' Day Rates

November 3, 2022

©GMS (File image)
©GMS (File image)

GMS, a UAE-based owner of self-propelled, self-elevating support vessels serving the offshore oil, gas, and renewables industries, has secured two new contracts and a contract extension. 

One of the new contracts is for a large-class vessel, while the other is for a small-class vessel, GMS said. The contract extension is for a mid-tier vessel. The company did not say who the clients were, which vessels exactly would be deployed for the projects, nor where.

"These contract awards, with improved day rates, equate to seventy-eight months of utilization, significantly increasing the overall fleet backlog and secured revenue," GMS said, without going into details on the exact dayrates.

Mansour Al Alami, GMS Executive Chairman said: "These contract awards solidify our financial position going into 2023 and again reflects positively on the already favourable market conditions."



Current News

Lebanon Extends Offshore Exploration Licensing Round Deadline Again

Lebanon Extends Offshore Exploration Licensing Round Deadline Again

Wah Seong Wins $127M FPSO Topside Module Order

Wah Seong Wins $127M FPSO Topside Module Order

TotalEnergies Pulls Out of Russia's Novatek with $3.7B Write-down

TotalEnergies Pulls Out of Russia's Novatek with $3.7B Write-down

Proserv Secures SMS as Sampling Representative in Malaysia

Proserv Secures SMS as Sampling Representative in Malaysia

Gulf of Thailand: Valeura Energy to Buy Three Offshore Blocks from Mubadala Petroleum

Gulf of Thailand: Valeura Energy to Buy Three Offshore Blocks from Mubadala Petroleum

DEME, Penta-Ocean Unveil Upgraded Wind Turbine Installation Vessel Model

DEME, Penta-Ocean Unveil Upgraded Wind Turbine Installation Vessel Model

Petronas Makes 'Significant' Oil & Gas Discovery Offshore Malaysia

Petronas Makes 'Significant' Oil & Gas Discovery Offshore Malaysia
photo

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