Gulf Marine Services (GMS), the UAE-based owner of self-propelled, self-elevating offshore support vessels, has secured a contract extension for one of its small-class vessels operating in the GCC region.

The extension, awarded under an existing agreement by what the company described as "a major national oil company in the Middle East," adds 183 days beyond the current contract period. The client also holds two further three-month extension options thereafter, which, if exercised, would keep the vessel on hire for longer still. GMS' current backlog stands at $659m, a figure that gives the company forward visibility on contracted work as it continues to secure repeat business from existing clients.

Under the extended deal, the vessel will continue supporting the client's offshore maintenance operations without interruption — the routine platform upkeep that makes up a significant share of demand for jack-up support vessels in mature offshore provinces.

"This extension further strengthens fleet utilisation, which remains central to the delivery of our objectives," said Mansour Al Alami, GMS executive chairman.

Utilisation is a closely watched measure for offshore vessel operators, reflecting how much of a fleet is actively earning; multi-month extensions of this kind help keep units contracted while owners pursue new tenders across their markets.

Founded in 1977 and headquartered in Abu Dhabi, GMS operates a fleet of 15 self-propelled, self-elevating support vessels spanning small, mid and large classes. Because the units are self-propelled, they can reposition between locations without tug assistance. These jack-up units are designed to raise themselves above the sea surface on legs, providing stable working platforms for a wide range of offshore activities — from platform maintenance and well intervention to installation and decommissioning — as well as offshore wind support. The company's operations have historically covered the Middle East, the North Sea and West Africa.

Source: Splash247