Gulf Island Fabrication, Inc. Announces Project Letter of Intent

  Gulf Island Fabrication, Inc. Announces Project Letter of Intent

Business Wire

HOUMA, La. -- July 17, 2013

Gulf Island Fabrication, Inc. (NASDAQ: GIFI), announced today that, through
its subsidiary Gulf Marine Fabricators, it has received a Letter of Intent
from Walter Oil & Gas Corporation in anticipation of a contract for the
fabrication of topsides totaling approximately 4,500 short tons. The topsides
will accompany the 1200’ jacket, previously awarded to Gulf Marine
Fabricators, for Walter’s Coelacanth Project located at Ewing Bank 834 in the
Gulf of Mexico. Revenue backlog and man-hours associated with this project
will be reported in connection with the Company’s announcement of financial
results for the quarter ended June 30, 2013.

Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a leading
fabricator of offshore drilling and production platforms, hull and/or deck
sections of floating production platforms and other specialized structures
used in the development and production of offshore oil and gas reserves. These
structures include jackets and deck sections of fixed production platforms;
hull and/or deck sections of floating production platforms (such as tension
leg platforms (“TLPs”), “SPARs”, “FPSOs” and “MinDOCs”), piles, wellhead
protectors, subsea templates and various production, compressor and utility
modules, offshore living quarters, towboats, liftboats, offshore supply
vessels, dry docks, tanks and barges. The Company also provides offshore
interconnect pipe hook-up, inshore marine construction, manufacture and repair
of pressure vessels, heavy lifts such as ship integration and TLP module
integration, loading and offloading of jack-up drilling rigs, semi-submersible
drilling rigs, TLPs, SPARs, or other similar cargo, onshore and offshore
scaffolding, piping insulation services, and steel warehousing and sales.


Gulf Island Fabrication, Inc.
Kirk J. Meche, 985-872-2100
Chief Executive Officer
Jeffrey M. Favret, 985-872-2100
Chief Financial Officer
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