Global Industries to Install PEMEX Ku-D Pipelines

Global Industries' subsidiary Global Offshore Mexico S. de R.L. de C.V. has signed two contracts with PEMEX Exploration and Production to execute the installation of three pipelines in the Ku Field in Mexico's Bay of Campeche. The first contract calls for one 36-inch diameter pipeline extending 13 miles (21 kilometers); while the other contract involves one 24-inch line and one 12-inch line extending a combined total of 3.2 miles (5.2 kilometers). The Shawnee, Titan 2, and Iroquois will perform the work scheduled for the first quarter 2006. The value of the two contracts is $128 million.