Abu Dhabi-based Gulf Marine Services (GMS), the largest operator of self-propelled self-elevating support vessels (SESVs) will set up a state-of-the-art facility at Zayed Port in Abu Dhabi, UAE, to construct and maintain its offshore support vessels that serve the region’s oil and gas industry, said Trade Arabia.
GMS’s maintenance facility will relocate to Zayed Port from its current yard in Mussafah, Abu Dhabi, as the new site is double the size, allowing GMS to bring subcontracted fabrication work in-house and reduce costs.
According to The National, GMS operates a fleet of 13 vessels and plans to add two more by the end of 2016. Earlier in September, it had secured a $620m syndicated loan for six years with Abu Dhabi Islamic Bank. The company was founded in 1977 and is listed on the London Stock Exchange from 2014.