London-listed liftboat operator Gulf Marine Services (GMS) has won several contract awards from unnamed clients for work in the Middle East.
GMS said that it won three deals in total – two contract extensions for four years in total and one new contract for two years. All work will be done in Gulf Cooperation Council countries which include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
The two contract extensions will end in December 2025 while the new contract will end in April 2026. According to the company, these contracts increase GMS’ overall contracted backlog revenue to $326.2m.
“These new contracts on improved day rates reflect positively in a market where GMS remains well positioned to capitalise on increasing regional demand for liftboats,” said Mansour Al Alami, GMS executive chairman.
