Global Industries has secured a contract for transportation and installation of offshore facilities for projects in Malaysia. The contract, under which the actual scope of work will be defined annually, is initially estimated at around US $70 million for the first year, and has options for two 1-year extensions upon the expiry of the contract.
John Clerico, Global's Chairman and Chief Executive Officer, said, "This is the first contract we have been awarded in conjunction with our Malaysian partners, Kencana HL Sdn. Bhd. and we are very pleased that Petronas has shown such confidence in the Global - Kencana partnership's ability to carry out the significant scope of work involved with this project."
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