Global Industries Awarded Contract for Offshore India Pipeline Project in 2007
Posted on: Tuesday, 5 September 2006, 18:00 CDT
CARLYSS, La., Sept. 5 /PRNewswire-FirstCall/ -- Global Industries, Ltd. today announced that its wholly owned subsidiary Global Offshore International, Ltd. has been awarded a contract of approximately $87 million from British Gas Exploration and Production India Ltd. (BGEPIL), a nominee of the joint venture between BGEPIL, Oil and National Gas Corporation Ltd. - India, and Reliance Industries Ltd. for the New Revised Plan of Development (NRPOD) Project in their Mid Tapti field. Global's contract calls for the transportation, installation and pre-commissioning of one 20" x 80 km gas export pipeline, one 20" x 22 km infield pipeline with a 4" piggyback instrument air line, associated pipeline end manifolds and risers, the fabrication of two pipeline end manifolds and pipe burial operations.
Pipe lay barge mobilization is scheduled for December 2006 for this eleven-month contract. Global will execute the offshore installation in 15 to 40 meter water depth in the Mid Tapti field, located 160 km northwest of Mumbai.
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. The Company's shares are traded on 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.
Global Industries, Ltd.
CONTACT: Jim Gallagher of Global Industries, Ltd., +1-281-529-7979
Web site: http://www.globalind.com/
Source: PRNewswire-FirstCall
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