Global Industries to Install PEMEX Yum Pipelines

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.
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