Global Industries Wins $100M Mideast Contract

Global Industries, Ltd. said that one of its subsidiaries has received a contract award worth approximately $100 million.

The lump-sum contract calls for Global to transport and install pipelines and jackets and will utilize the newly built, multi-service vessel REM Fortress and the derrick pipelay barge 264 for the performance of this work, which is scheduled to start in June 2007.

Global's Chief Executive Officer, Mr. B.K. Chin said, "We see this award, shortly following our award for the Atlantis project in the United Arab Emirates, as a significant success in strongly positioning Global Industries in the Middle East, a pivotal region that has an extraordinary growth potential in the Oil and Gas market."

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