GMMOS Acquires MMPL

3 January 2010 (Last Updated January 3rd, 2010 18:30)

UAE-based oil and gas group GMMOS has acquired offshore shipbuilding company Minnow Marine Projects (MMPL) through its newly formed Singapore-based division, Stanford Asia. GMMOS said it will acquire MMPL's $200m fleet of offshore support vessels (OSV), which include four platform supp

UAE-based oil and gas group GMMOS has acquired offshore shipbuilding company Minnow Marine Projects (MMPL) through its newly formed Singapore-based division, Stanford Asia.

GMMOS said it will acquire MMPL’s $200m fleet of offshore support vessels (OSV), which include four platform supply vessels and six multirole utility vessels.

Stanford has a fleet of 33 vessels, including FSVs, utility vessels and crew boats operating largely on term charters across South East Asia.

GMMOS CEO Elias Nassif said Stanford plans to make additional acquisitions in the OSV sector while expanding its geographic presence in 2010 with regional offices in India and West Africa.