A major milestone for POSH in the Middle East is the recent award of its first-ever SURF (Subsea Umbilicals, Risers, and Flowlines) installation contract in Saudi Arabia. This achievement marks a significant expansion of POSH’s subsea construction capabilities in the area. The transportation and installation of various subsea products are set to begin in the first quarter of 2025. POSH Deep C, which was previously operating on ONGC’s Krishna-Godavari field offshore India, is chartered by L&T at an average day rate of 120,000 USD for this project. The vessel has recently transitioned to Saudi Arabia, enabling POSH to further extend its footprint in this growing market.