Offshore staff

(US) - Gulf Island Fabrication, Inc. says it has completed acquisition of the facilities, machinery and equipment of Gulf Marine Fabricators.

The acquired facilities consisting of three yards on over 400 acres are strategically located on the Gulf Intercoastal Waterway near Corpus Christi, Texas, which provides for unobstructed access to the GoM.

With a deep hole in excess of 75 ft adjacent to the south yard, the facilities are capable of providing offloading for submersible heavy-lift ships and dockside integration capabilities required for many deepwater projects. The south yard also maintains a shear leg crane providing over 4,000 tons of lifting capacity.

The parties also entered into a cooperation agreement to work together on mutually agreed upon EPC (engineer, procure, and construct) and EPIC (engineer, procure, install and construct) projects, which became effective upon the closing of the asset transfer.

02/01/06