Global Industries (GLBL) Awarded $75 Million Project in SE Asia

January 27, 2009 10:06 AM EST

Global Industries, Ltd. (Nasdaq: GLBL) announced that its wholly owned subsidiary, PT Global Industries Asia Pacific Pte., Ltd. has entered into a contract with PT Transportasi Gas Indonesia (Transgasindo) to provide the replacement and zero downtime repair of a 28" pipeline offshore Indonesia.

The contract is valued at approximately US$75 million and is scheduled to commence in February 2009, with a scheduled completion date of April 2009.

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Global Industries, Ltd. is a leading offshore 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.

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