Pacific Radiance Ltd. has re-established its presence in the Middle East with its recently inked multiyear contracts worth up to USD 68 million, including options. Under the multiyear contracts with independent and national oil companies, five of the Group's offshore support vessels (OSVs) will support production campaigns in the Arabian Gulf. These vessels, which were previously off-hire, have already started work, adding to the group's overall vessel utilisation. These contracts demonstrate the versatility of the company's diverse fleet, supported by the group's continued efforts to improve cashflow, as well as grow and deepen the company's footprint in key target markets in Asia, Latin America and Africa. Besides the Middle East, Pacific Radiance also made further inroads into Mexico which recently liberalised its offshore oil & gas sector, allowing private and foreign direct investments and equity participation.