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LONDON (Alliance News) - Gulf Marine Services PLC on Thursday said it has won a new contract award for one of its large class vessels.
The oil and gas services company said the vessel will start a four-year charter, with two years firm and an option to extend a further two years, at the start of the second quarter of 2015.
The vessel will be supporting well service and maintenance work in the North Sea, Gulf Marine said.
It did not provide financial details on the new contract, nor the customer, but said the day rate is in line with those previously indicated for the North Sea. It said its current backlog, including firm and extension options, is USD547 million.
"We are very pleased to have secured this long-term contract and look forward to working with our client to support their operations in the North Sea," said Gulf Marine Chief Executive Officer Duncan Anderson.
"The market in Europe for our flexible assets continues to be strong and we are seeing an increasing demand for our sophisticated self-elevating support vessels for shallow water brownfield maintenance to extend asset life and production, well intervention and enhanced recovery," Anderson added.
Gulf Marine shares were up 1.3% to 136.739 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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