Gulf Marine Services PLC announced the signing of a contract extension for one of its vessels currently operational in the Middle East. Additionally, the company has received a Letter of Award for another vessel, also operating in the Middle East. These two awards span a combined period of 5.2 years.

Considering this, the total backlog has now reached USD 373 million. This represents approximately 2.45 times 2023 revenues and offers an improved visibility moving forward.