Global wins pipeline work off Vietnam, Thailand

Global Industries has signed a $17-million contract with Japan Vietnam Petroleum Ltd. to install pipelines for the Rang Dong and Phoung Dong field developments 135 km (84 mi) southeast of Vung Tao offshore Vietnam.

Offshore staff

CARLYSS, Louisiana –Global Industries has signed a $17-million contract with Japan Vietnam Petroleum Ltd. to install pipelines for the Rang Dong and Phoung Dong field developments 135 km (84 mi) southeast of Vung Tao offshore Vietnam.

The contract includes project planning, transportation, and installation of four pipelines 6 in (15.25 cm) to 12 in (30.5 cm) diameter over 37.8 km (23.5 mi). Installation is scheduled for 2Q 2008.

Offshore Thailand, Global will provide saturation diving service on the repair of PTTEP's 42-in (167-cm) gas transmission line in the Gulf of Thailand for $10 million.

"We value the confidence that Japan Vietnam Petroleum Ltd. has shown in Global by awarding us this important installation project," says B.K. Chin, Global CEO. "In addition, the repair of PTTEP's 42-in pipeline is a significant step towards our strategy to grow our underwater and diving services to third parties."

08/17/2007

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