Contract
Summary by AI BETAClose X
28 January 2026
Gulf Marine Services PLC
('Gulf Marine Services', 'GMS', 'the Company' or 'the Group')
Contract Extension Award
Gulf Marine Services (GMS), a leading provider of self-propelled, self-elevating support vessels to the offshore energy industry, is pleased to announce that it has received a variation order from a major National Oil Company (NOC) in the Middle East for extension to an existing contract for two of its vessels, to provide for up to an additional six years of contract duration across the two vessels, including optional periods. This variation reinforces GMS's strong partnership with the client and its continued commitment to supporting the region's offshore energy operations. The backlog stands now at US$ 0.7 billion.
Mansour Al Alami, GMS Executive Chairman, commented:
"We are very pleased with this contract extension. It shows continued demand for our vessels in the Middle East. With this strengthened backlog, investors can see clear visibility into our performance for the coming years. It also positions us well to grow and deliver value to our shareholders."
This announcement contains inside information and is provided in accordance with the requirements of Article 17 of the Market Abuse Regulation (EU) No. 596/2014 (as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended).
‐ENDS-
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Enquiries: Mansour Al Alami Executive Chairman
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Tel: +44 (0)20 7603 1515 |
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Celicourt Communications Philip Dennis Mark Antelme Kristine Qevani |
Tel: +44 (0) 20 7770 6424 |
Notes to Editors:
Gulf Marine Services PLC, a company listed on the London Stock Exchange, was founded in Abu Dhabi in 1977 and has become a world‐leading provider of advanced self‐propelled self‐elevating support vessels (SESVs). The fleet serves the offshore energy industries from its offices in the United Arab Emirates, Saudi Arabia, and Qatar. The Group's assets are capable of serving clients' requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico, and Europe.
The GMS fleet of 15 SESVs is amongst the youngest in the industry. The vessels support GMS's clients in a broad range of offshore platform refurbishment and maintenance activities, well intervention work, and offshore wind turbine maintenance work (which are opex‐led activities), as well as offshore platform installation and decommissioning and offshore wind turbine installation (which are capex‐led activities).
The SESVs are categorised by size ‐ K‐Class (Small), S‐Class (Mid), and E‐Class (Large) ‐ with these capable of operating in water depths of 45m to 80m depending on leg length. The vessels are four‐legged and are self‐propelled, which means they do not require tugs or similar support vessels for moves between locations in the field; this makes them significantly more cost‐effective and time‐efficient than conventional offshore support vessels without self-propulsion. They have a large deck space, crane capacity, and accommodation facilities (for up to 300 people) that can be adapted to the requirements of the Group's clients.
Gulf Marine Services PLC's Legal Entity Identifier is 213800IGS2QE89SAJF77
www.gmsplc.com
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