LONDON (Alliance News) - Gulf Marine Services PLC on Wednesday said it has secured a major long-term contract for one of its Large Class vessels.
The company did not provide any financial details on the contract or name the customer, but said the vessel will start a four-year charter, comprising a three-year firm order and one-year option, at the end of the first quarter.
It said the unnamed customer is a Middle East and North Africa-based national oil company and said the day rate for the vessel is in line with those previously indicated for this class of vessel in the region.
The new award, along with other contracts in place at January 1, gives the group a secure order backlog of USD739 million.
"The signing of this new contract is testament to our long-standing partnerships with national oil companies in the Middle East. It also demonstrates that demand remains strong for our technically advanced, flexible and fast manoeuvring assets for brownfield oil and gas operations, which is very encouraging in the current low oil price environment," said Chief Executive Duncan Anderson.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Gulf Marine Services (GMS)