5th Nov 2019 10:55
(Alliance News) - Support vessel provider Gulf Marine Services PLC said Tuesday it has been awarded a four-year contract for a K-Class small vessel, from an unnamed Middle East national oil company.
Through the contract, Gulf Marine will provide support for offshore activities, with the work being undertaken in UAE waters, where the vessel will be mobilised in January 2020.
Following the contract award, secured utilisation of the group's entire fleet for 2020 now stands at 56%.
"We are pleased to announce this long-term contract award and look forward to meeting our customers' needs over the coming years," said Executive Chair Tim Summers.
Shares in Gulf Marine Services - which is headquartered in Abu Dhabi - were up 4.2% at 8.85 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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