Global gets $75m project from Transgasindo
Tuesday, January 27 2009 - 12:47 AM WIB
NASDAQ-listed firm Global Industries, Ltd. announced Monday 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.
Global will be utilizing its pipelay barge Comanche, assisted by additional support vessels, to install a new 23 km section at KP 110-KP 133 Kuala Tungkal - Panaran, Grissik-Singapore Pipeline. The project also includes a total of eight hot tap installations to tie the new pipeline to the existing pipeline. The repair is to be carried out without interruption of the gas flow. (alex)