Abu Dhabi’s Gulf Marine Services (GMS) was awarded two contracts for its vessels for a Middle East National Oil Company, according to Pipeline Oil and Gas News.
The first contract is for a K-Class (small) vessel and it is valid for seven months with an option of extension, while the second contract is for an S-Class (mid-sized) vessel and it covers a period of 12 months.
“Momentum is building. These are important contract awards for GMS, continuing to add to our order book for 2020,” said Tim Summers, GMS Executive Chairman.
GMS announced that the fleet now stands at a higher level of utilization than the experienced one in 2019, with a 73% of secured utilization, adding that more than $74 million of new contract backlog has been added since August 2019.