Pemex Awards Global Industries Ixtal Pipeline Project in Bay of Campeche

Global Industries, Ltd.

Global Industries, Ltd. has been awarded a project from Pemex for pipeline work in Pemex's Ixtal Field in the Bay of Campeche.

The project, worth approximately US $75 million, is scheduled to begin in October and be completed by the end of January, 2009. Global will be utilizing the Shawnee as the main operating vessel, with other additional support vessels assisting.

Over 12 km of 24" pipe will be laid by Global, and the project also includes several pipeline crossings, risers, and expansion curves. Water depth at the project site is approximately 150 feet.

B.K. Chin, Global's Chairman and Chief Executive Officer, stated, "We have a close working relationship with Pemex, and have been active in the Ixtal Field for well over a year. The award of this project demonstrates Pemex's confidence in Global as a reliable contractor and solutions provider."