GMS, a number one supplier of superior self-propelled, self-elevating assist vessels serving the offshore oil, gasoline and renewables industries, has secured a long-term contract for the GMS Evolution. Winning this contract follows the profitable trial of the vessel’s Cantilever Workover System, with an NOC shopper within the MENA area. The system gives distinctive and vital operational and price advantages. GMS Evolution will substitute a Ok-Class vessel, presently on contract with the identical shopper, from January 2021 by to This autumn 2022, on the next day price that displays the extra capabilities of the GMS Evolution. Reflecting current contract wins, GMS’s backlog presently stands at $220.2m (agency and choices), of which $101m will probably be executed in 2021. GMS can also be in superior discussions for a possible award for the launched Ok-Class vessel, which, if profitable will improve secured utilisation for 2021 from 75% to c.80% Mansour Al Alami GMS Executive chairman stated: “This contract win is an extra reflection of the brand new board’s efforts, throughout a number of fronts, to enhance the outlook for the corporate. Backlog, revenues and operations are all half and parcel of our major goals. As lately introduced, discussions with the banks have been constructive, round enhancements to the phrases of the debt construction, and we proceed to hunt to place in place a workable resolution that protects all stakeholders.” “Our shopper has seen first?hand the distinctive operational time and price advantages of utilising the Cantilever System on the GMS Evolution, when finishing up effectively workover actions. The system is able to finishing up all facets of effectively workover exercise, usually carried out by a drilling rig, nonetheless, its actual energy comes when frequent strikes throughout the subject are required. Being self-propelled, not like a drilling rig, the Evolution doesn’t depend on tug assist, so can transfer between places in a fraction of the time.” ?
GMS Evolution and her cantilever work over system has been designed and constructed to allow heavier work over scopes from a self-propelled jack up barge. The optimised design allows execution of Heavy Well Intervention (HWI) benefitting from the efficiencies of our Four-Legged self-propelled jack up barges present. The kind of HWI work that may be carried out embrace: · Electrical Submersible Pump (ESP) change out · Plug and abandonment: Re-completion, Side-tracks, Slot Recovery, Work Overs, Coil Tubing and the advantages embrace: Significant time financial savings shifting between places leading to workover programmes being accomplished considerably faster due to this fact permitting purchasers to maximise manufacturing ranges. No requirement to rent tugs to help with drilling rig strikes.
GMS was established within the UAE in 1977 and has efficiently expanded its fleet and geographical protection, from an area operation in Abu Dhabi to turn into the primary participant within the Middle East, and is now the most important operator of superior self-propelled self-elevating assist vessels (SESVs) on this planet.
(Source and picture: GMS)

The put up GMS SECURES LONG TERM CONTRACT FOR ITS VESSEL FITTED WITH CANTILEVER WORKOVER SYSTEM appeared first on Energy Global News.

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