ABU DHABI, UAE – Gulf Marine Services (GMS) has completed a relocation from its Musaffah base to new facilities in Abu Dhabi.
The move should cut office and yard costs by around 40% annually from the current quarter onwards, the company claimed.
Recent contract awards for the company’s self-elevating support vessels from NOCs and EPC clients have increased use of the contracted fleet, and GMS has also built as steady backlog of renewable energy activity work off northwest Europe through end-2021.
The outlook for European renewable work remains strong, with various companies looking to secure vessels for projects in the longer term.
GMS has already secured work for 69% of its fleet for 2021, compared with 56% (at around this point last year for 2020).
Programs include the first contract under a multi-year framework agreement awarded by an unnamed international EPC contractor, and three new contracts and/or extensions (18 months in total) in the MENA region.
Operations offshore are continuing by and large without interruption. COVID-19 cases were reported on four of the company’s vessels, but measures are said to have been put in place to manage the impact.
Crew changes remain affected by restricted travel and quarantine requirements: GMS is maintaining dialogue with the relevant authorities and the crews.
The E-Class vessel GMS Evolution, equipped with the company’s cantilever technology, continues to support well intervention work for a Middle East NOC, with operations completed so far on 13 wells.