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Global Industries' subsidiary, Global
Offshore Mexico S. de R.L. de C.V.. has received a letter of intent from PEMEX
Exploration & Production to install three 20-inch diameter pipelines and nine
12-inch diameter pipelines as part of the EPC-77 Project in the Cantarell
Field. The field is located in Mexico's Bay of Campeche. The Project is
valued at approximately $100 million and scheduled to be completed by the end
of the first quarter 2005.
William J. Dore, Chairman and CEO, stated, "The project will utilize our
vessels Hercules, Shawnee, and Pioneer. This award reflects the significant
level of project activity in the Bay of Campeche."