Gulf Island Fabrication Wins Pemex Contract

Gulf Island Fabrication has executed a contract through Keppel SLP Consortium to fabricate two jackets and piles for PEMEX.

The Keppel SLP Consortium comprises four partners, namely Keppel Offshore & Marine USA Inc., SLP Engineering Ltd, AMFELS Inc. and Gulf Island L.L.C.

The platforms, to be called HA-KU-S and HA-KU-M, are to be installed in the Ku-Maloob-Zaap field in the Bay of Campeche, Gulf of Mexico, by first quarter of 2006.

The value of this contract, in addition to other contracts destined for West Africa, the North Sea and the Gulf of Mexico, that have been awarded to the Company since its press release dated October 27, 2004, will increase revenue backlog by $58.7 million and labor backlog by approximately 645 thousand man-hours.