Global Industries Awarded PEMEX Ku-G Pipeline Install

Global Industries, Ltd. subsidiary Global Offshore Mexico S. de R.L. de C.V. has been awarded a contract with PEMEX Exploration and Production to execute the installation of four pipelines as part of the Ku-G portion of the Ku-Maloob-Zaap development in Mexico's Bay of Campeche.

The contract, which is valued at approximately $260 million, calls for the procurement, installation, tie-in and associated commissioning of three 30- inch pipelines and one 24-inch pipeline in approximately 295 feet of water in the Ku field. The company will utilize its DLB Iroquois and DLB Shawnee derrick/pipelay barges to execute the offshore installation commencing in May 2006 with completion expected by year-end.