Global Industries Awarded Pemex Pipeline Contract for Ku-Maloob-Zaap

Global Industries, Ltd.

Global Industries has been awarded a project from Petroleos Mexicanos (Pemex) for pipeline work in Pemex's Ku-Maloob-Zaap Field in the Bay of Campeche.

The project, worth approximately US $46 million, is scheduled to begin in March 2009 and be completed by the end of July 2009. Global will be utilizing the Shawnee as the main operating vessel, with other additional support vessels assisting.

Global will install two pipelines at a depth of approximately 300ft, one 24" x 2.1km from PP-Maloob-C platform to PP-Ku-H platform, and another one 12" x 0.5km from a subsea connection to the PP-Maloob-C in the Bay of Campeche. The project also includes pipeline crossings, risers, and expansion curves.

According to B.K. Chin, Global's Chairman and Chief Executive Officer, "This award demonstrates again Pemex's confidence in Global's ability in executing their projects in a timely and safe manner."