Global Industries has received a letter of intent from PEMEX
Exploration & Production to install three pipelines in the Litoral Tabasco
Field. The Litoral Tabasco contract calls for installation of one 12-inch and
two 10-inch diameter pipelines, one of which will begin at Yum and terminate
at 2B. The Mexico-based Shawnee will perform the Yum installation.
Installation of the pipelines is contracted at approximately $26 million and
scheduled for First Quarter 2005.