ABU DHABI, UAE – Gulf Marine Services has developed a cantilever system that can be fitted directly onto the decks of its self-propelled self-elevating support vessels (SESVs).
The system should allow the company to increase the level and type of well intervention activities performed from its vessels to include operations traditionally handled by costlier, non-propelled drilling rigs.
A Large Class vessel with an installed well workover cantilever should be ready for operations, subject to receipt HSSEQ clearance, from the end of 1Q 2017.
Otherwise, construction continues of the company’s latest Large Class vessel GMS Evolution, with delivery scheduled for the end of this year. This will conclude GMS’ newbuild program.
Over the first nine months of the year the company has achieved a 78% utilization level across its SESV fleet, with signs of a pick-up in tender opportunities in the Middle East and Europe.
This month the company expects to complete legal documentation concerning a letter of intent announced in late August for an 18-month contract (including options) for a Large Class vessel deployment offshore Europe. This is set to start next spring.
It has also agreed to curtail an agreed option period by around three months for another Large Class vessel operating in Europe to accommodate a client’s revised work program.
The vessel is due to come off charter in early 2017 and will likely then proceed, following minor modifications, to start on this contract.