Horizon Offshore Wins Pemex Contract
Horizon Offshore's subsidiaries, HOC Offshore S. de R.L. de C.V. and Horizon Offshore Contractors, Inc. jointly received a letter of award for the KU-MALOOB-ZAAP project from Pemex Exploracion y Produccion. The project calls for installation, tie-in, and associated topside hookup works of four pipelines. Horizon will utilize its lay barge Lone Star Horizon on the project. Construction is scheduled to begin late in the third-quarter of 2005.
David Sharp, President and CEO of Horizon Offshore, Inc. stated, "Despite having experienced economic difficulties during a period of lower demand for our services, we have maintained good relationships with all of our major customers, including Pemex. This award confirms that Pemex, like our other customers, has confidence in our ability to successfully complete major construction projects. This award brings our current backlog to $245 million."
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