Houston-based steel fabricator and service provider to the industrial and energy sectors, Gulf Island Fabrication, has secured multiple subsea fabrication awards with an undisclosed integrated subsea engineering, procurement, construction, and installation (EPCI) company.
According to Gulf Island, the awarded subsea fabrication projects cover procurement, fabrication, coating, and testing of subsea structures for several developments located in the Gulf of Mexico.
Richard Heo , Gulf Island’s President and Chief Executive Officer, commented: “Several years ago, we made a strategic decision to focus resources on the subsea fabrication market, so we are excited to see momentum building in this market, with these recent awards validating our strategy.”
The fabricated components entail pipeline end terminations (PLETs), jumper kits, jumpers, and sleepers that will be fabricated at the U.S. firm’s Houma fabrication facility. The company explains that the aggregate contract value for the various contract awards is approximately $5 million.
“We expect subsea fabrication activity to remain strong well into 2024, associated with anticipated subsea developments across the Gulf of Mexico, Guyana and Brazil, and Gulf Island is well-positioned to take advantage of these trends. We are proud to have been chosen for these critical projects and look forward to expanding our relationship with this customer,” concluded Heo.
These contract wins come over a month after the company’s subsidiary, Gulf Island Shipyards (GIS), settled a lawsuit with Hornbeck Offshore Services regarding the construction of two multi-purpose supply vessels (MPSVs).
Prior to reducing its board size in 2022 and disclosing the name of its new chairman of the board of directors , Gulf Island acquired the business assets and operations of DSS from Dynamic Industries in December 2021 to pursue new growth opportunities, diversify its services business, increase skilled labor workforce, and create new revenue synergy opportunities.