Gulf Island Fabrication, Inc. has successfully secured multiple subsea fabrication projects from a leading integrated subsea engineering, procurement, construction, and installation (EPCI) company. The awarded projects involve the procurement, fabrication, coating, and testing of subsea structures for various developments located in the Gulf of Mexico.
The scope of work includes the fabrication of pipeline end terminations (PLETs), jumper kits, jumpers, and sleepers, which will be carried out at Gulf Island’s Houma fabrication facility. The aggregate contract value for these diverse awards amounts to approximately $5 million. These projects will contribute to the company's new awards and backlog in the fourth quarter of 2023.
Richard Heo, President and Chief Executive Officer of Gulf Island, expressed excitement about the strategic decision made years ago to focus on the subsea fabrication market. He highlighted the recent momentum in this market, with the awarded projects serving as validation for their strategic direction. Anticipating continued strength in subsea fabrication activity through 2024, Heo emphasized Gulf Island's favorable positioning to capitalize on upcoming developments in the Gulf of Mexico, Guyana, and Brazil. The company looks forward to deepening its relationship with the customer through the successful execution of these critical projects.