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Global Industries Awarded US$35 Million Project in India

Posted on: Tuesday, 24 March 2009, 06:30 CDT

CARLYSS, La., March 24 /PRNewswire-FirstCall/ -- Global Industries, Ltd. (Nasdaq: GLBL) announced today that its wholly owned subsidiary, Global Offshore International Ltd. has been awarded a two-year contract with The Shipping Corporation of India Ltd. (SCI) for diving services, personnel, and equipment maintenance to be performed offshore India aboard three Oil and Natural Gas Corporation (ONGC) vessels.

The contract is valued at approximately US$35 million and has an option to be extended for up to six additional months.

Global Industries, Ltd. is a leading solutions provider of offshore construction, engineering, project management and support services including pipeline construction, platform installation and removal, deepwater/SURF installations, IRM, and diving to the oil and gas industry worldwide. The Company's shares are traded on the NASDAQ Global Select Market under the symbol "GLBL".

This press release may contain forward-looking information based on current information and expectations of the Company that involve a number of risks, uncertainties, and assumptions. Among the factors that could cause the actual results to differ materially are industry conditions, prices of crude oil and natural gas, the Company's ability to obtain and the timing of new projects, and changes in competitive factors. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual outcomes could vary materially from those indicated.

SOURCE Global Industries, Ltd.

Source: PR Newswire

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