Horizon Offshore Receives LOI from EDC Ecuador
Horizon Offshore, Inc. has received a Letter of Intent from Noble Affiliates, Inc. through its subsidiary EDC Ecuador, Ltd. to install 42 miles of 12-inch gas pipeline as part of the Amistad Development Project in Golfo De Guayaquil, Ecuador.
Horizon will use one of its pipelay/bury barges to lay and bury the offshore pipeline. The installation is scheduled to begin during the fourth quarter of 2001, with project completion in the first quarter of 2002. With the addition of this project, Horizon's current backlog is $64 million.
Horizon President and Chief Executive Officer, Bill J. Lam stated, ``We are extremely pleased with the intent of Noble to award this project to Horizon Offshore. We have assembled a very talented management team for international construction activities for projects of this nature and will continue to expand our operations in selected international markets.''