Global Industries Awarded PEMEX Contract

Global Industries' subsidiary, Global Offshore Mexico S. de R.L. de C.V., has received a letter of intent from PEMEX Exploration & Production to install two 24-inch diameter and one 12-inch diameter pipelines in the Bay of Campeche's Cantarell Field at Akal-MB in 165 feet of water.

The Akal-MB Project, valued at approximately $40 million, includes the installation of two 24-inch diameter oil and gas pipelines: one pipeline from Akal-MB to Akal-B and the second pipeline from Akal-MB to Akal-M. The project also requires installation of a 12-inch diameter gas pipeline from ABN to Akal-MB. The Shawnee will install the pipelines and the Titan 2 will perform the hook-up activities for the project scheduled later this spring.