Global Industries Wins Installation Contract for Pemex's Akal GR Pipelines

Global Industries' subsidiary Global Offshore Mexico S. de R.L. de C.V. has been awarded an approximately $130 million contract from PEMEX Exploration and Production to execute the installation of two pipelines within the Cantarell Field located in Mexico's Bay of Campeche.

The contract calls for the installation, tie-in and associated commissioning of two 36-inch diameter pipelines spanning a combined 12-miles between the Akal C and Akal GR platforms located in approximately 213 feet of water. The company will utilize its DLB Iroquois derrick/pipelay barge and dynamically-positioned DB Titan II derrick barge to execute the offshore installation. The project will commence immediately with completion expected by the first quarter of 2007.