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Updated: 11/30/2009 4:03 PM					Sponsored by:
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Global Industries wins Chevron Thailand contract

By Associated Press
March 18, 2009 | Comments (0)

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Oil services company Global Industries Ltd. said Wednesday that its Thailand subsidiary will install platforms and pipelines for Chevron as part of the development of hydrocarbon reserves within the Gulf of Thailand.

The contract with Chevron Offshore (Thailand) Ltd. and Chevron Thailand Exploration and Production Ltd. is valued at about $44 million and is scheduled to begin in May. Completion is expected by October.

Global Industries Offshore (Thailand) Ltd. will use its Comanche barge for the project, which will be in depths of 180 feet to 243 feet.

Global Industries shares, which have traded between $2.09 and $20.04 during the past year, fell 3 cents to $3.42 Wednesday morning.

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