LONDON (ShareCast) - Support vessels provider Gulf Marine Services (GMS) has signed a contract for one of its small class vessels to support maintenance work for an oil company in the Middle East and North Africa (MENA) region.

The 'K-Class' self-propelled self-elevating support vessel (SESV) will begin production in the new 12-month charter in the third quarter of 2014, with the contract towards the top end of current day rates across GMS' Small Class vessels.

The group currently has a fleet of self-propelled jackup barges in the MENA region, which provide offshore oil, gas and renewable energy activities.

Chief Executive Officer Duncan Anderson said: "This new contract, which will directly follow on from completion of the vessel's existing work with another client, is one of a number of current opportunities in the pipeline, reinforcing our view that there continues to be a very strong demand for our assets in brownfield oil and gas recovery, well services and maintenance in the MENA region."

WS

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