Egyptian PMS Posts Revenues in 2025

Petroleum Marine Services (PMS) generated total revenues of US$261.5 million in 2025. The revenues included US$129 million from development projects and US$132.6 million from maintenance, inspection, drilling, and other marine services, CEO Amr Badawy said during the general assembly meeting to approve the company’s 2025 financial results. Badawy explained that PMS’s strategy is focused on diversifying and expanding its activities through cable-laying and deepwater installation works, in addition to port dredging. The company is also focused on broadening its client base, increasing business volumes, and strengthening partnerships with existing customers. In 2025, PMS secured 44 new contracts and awards valued at US$310.7 million, compared to US$191 million in the previous year. The CEO highlighted key projects executed across the Mediterranean and the Gulf of Suez including Phase 11 of the West Delta Deep Marine (WDDM) gas field development, the West Burullus offshore gas field development, the North Safa and Zaafarana fields, in addition to the development of the United Gas Derivatives Company (UGDC) berth at Damietta Port to receive a regasification vessel. PMS is currently upgrading its marine fleet with a new multipurpose unit and is building a specialized deepwater barge to enhance its competitiveness in offshore projects. In November, the company launched a unified offshore rig movement service covering the Red Sea and Gulf of Suez in collaboration with the UK-based ABL Group, to reduce operating costs and support production efficiency in the region. On the international front, PMS is expanding its presence in Saudi Arabia after completing registration procedures with Aramco and KJO. The company is also finalizing registration in the UAE, which is expected to be completed within two months. Chairing the meeting, Karim Badawi, Minister of Petroleum and Mineral Resources, praised the company’s recent achievements, noting its efficiency in executing complex offshore projects according to the highest technical standards and within set timelines. The minister explained that the current phase offers promising opportunities for the company, in light of intensifying gas exploration activities in the Mediterranean Sea. This year will witness the drilling of the largest number of offshore wells, which requires early preparation from the company to maximize the benefit from these opportunities, Badawi said, stressing the need for PMS to invest its capabilities and marine fleet in building partnerships with companies operating in exploration activities, ensuring its readiness to participate in the development and production phases as soon as the ongoing exploration work is completed. The Minister also emphasized strict adherence to occupational health, safety, and environmental protection standards, given the high-risk nature of offshore operations, noting that safeguarding workers and protecting the marine environment remain top priorities for the petroleum sector.