Global Industries announced that its wholly owned subsidiaries, Global Pipelines Plus Nigeria, Ltd. and Global Offshore International, Ltd. have entered into a contract with a West African client to provide the transportation, installation and related services associated with the replacement and repair of a 24-inch pipeline offshore Nigeria.
The contract is valued at approximately $100 million and mobilization is scheduled to begin in January 2009.
Global will be utilizing its pipelay barge Cheyenne, assisted by a number of support vessels, to install the 24-inch replacement pipeline.
John Clerico, Global's Chairman and Chief Executive Officer, stated, "We expect the award of this 2009 project to be the first step in our return to profitability in this region."
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