Cantilever broadens GMS’ intervention capability
Gulf Marine Services says that the cantilever system on its new Large Class self-elevating support vessel GMS Evolution should be operable next month, following sea trials.
It will allow the company to provide a greater range ofwell intervention services from the vessel and to compete for well workover activity that previously could be performed solely from costlier and less efficient non-propelled jackup rigs.
Otherwise, the company’s focus remains on maximizing employment of its vessel fleet, with a rate of 56% achieved in 1Q, higher than in the previous quarter.
GMS’ contract backlog (comprising firm and extension options) is currently $251.3 million.
Earlier this year the company won a 36-month contract, including options, for a mid-size vessel in the MENA region to supportwell intervention activities for a national oil company.