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Gulf Island Fabrication, Inc. Announces Project Letter of Intent

  Gulf Island Fabrication, Inc. Announces Project Letter of Intent

Business Wire

HOUMA, La. -- October 10, 2013

Gulf Island Fabrication, Inc. (NASDAQ: GIFI), announced today that, through
its subsidiary Gulf Island L.L.C., it has received a Letter of Intent from
Walter Oil & Gas Corporation in anticipation of a contract for the fabrication
of a Jacket/Piles and Topsides for Walter’s Megalodon project at South
Timbalier Block 311 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 September 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.

Contact:

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