A new joint venture between Saudi Arabia's Shoaibi Group and the UAE's Gulf Marine Services (GMS) has been created to provide offshore barge operation services. The new company, named Gulf Maritime Services Saudi Arabia (GMSSA), will be based in Al-Khobar, Saudi Arabia, and will allow the partners to expand their offshore operations of barge charters and avail from the scale of opportunity and future potential for all offshore areas arising in the region. GMS is currently the largest elevating support vessel operator in the Middle East, supplying an unrivalled modern fleet of self-propelled barges to the oil and gas market. Shoaibi Group has unmatched expertise in the oil and gas market in Saudi Arabia. The new venture will, therefore, capitalize on this expertise, and on the substantial offshore capital expenditure forecast for the region. GMSSA is set to provide floating or self-elevating offshore platforms, which will be used by oil companies for offshore well maintenance, construction and accommodation. The joint venture will cover well intervention and workover operations, well completion and well testing operations, offshore cranage and heavy lifting services, diving operations, topside construction and maintenance activities and temporary offshore accommodation, including hotel services. “Saudi Arabia is an extremely important market to us,” said GMS chief executive officer Duncan Anderson. “Shoaibi Group's experience in the Saudi oil and gas sector perfectly complements GMS's area of expertise. We believe we have the ideal partner to establish ourselves in the largest single market in the Arabian Gulf.” “We are delighted to partner with GMS, the leading regional operator of best-in-class offshore barges and support vessels,” said Shoaibi group director Khalid Al-Shoaibi. “We are confident that our partnership will be of invaluable service to the further development of Saudi Arabia's offshore oil and gas industry.”
