LONDON (Alliance News) - Gulf Marine Services PLC on Tuesday said it has secured confirmation of a contract for an offshore oil field support vessel in Europe.
The company, which provides self-propelled self-elevating support vessels to the offshore oil and gas industry, said the new contract is for a large class vessel to support oil and gas work for 18 months. The contract will start in the second quarter of 2017.
Gulf Marine did not disclose the identity of the customer, nor any financial details on the contract.
"This new contract is testament to our leading industry expertise and strong track record of successful operations in European waters. GMS is very well-positioned to capitalise on our clients' desire for less expensive and yet more capable offshore support solutions as our self-propelled vessels are significantly more economical and time-efficient than conventional support vessels without self-propulsion," said Chief Executive Duncan Anderson.
Gulf Marine shares were untraded on Tuesday morning, having last traded at 44.05 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Gulf Marine Services (GMS)