Global Industries Wins Contract for Gabon Project

Global Industries, Ltd. said that its wholly owned subsidiary Global Offshore International, Ltd. received a letter of intent from Perenco Gabon S.A. to award a contract of approximately US $50 million for their SEEG Pipeline project. Global's contract calls for the transportation, installation and pre-commissioning of one 8" x 108 km gas pipeline, one 10" x 98 km gas pipeline with a piggyback optical cable, and associated shore landings.

The pipe lay barges Global Cheyenne and Global Comanche will mobilize in May 2007 for this project. Global will execute the offshore installation in 0 to 30 meter water depth along the Gabonese coast. The new pipeline will be laid between Batanga (Perenco) facility, Port-Gentil and Libreville for gas delivery to the SEEG (Societe d'Energie et d'Eau du Gabon) facilities.

Global Industries provides pipeline construction, platform installation and removal, diving services, and other marine support to the oil and gas industry in the Gulf of Mexico, West Africa, Asia Pacific, the Mediterranean, Middle East/India, South America, and Mexico's Bay of Campeche.

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